Singapore PMI September 2017

Singapore

Singapore: Manufacturing PMI records its best result in over six years in September

October 3, 2017

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) rose from 51.8 in August to 52.0 in September, marking its best result since April 2011. As a result, the manufacturing sector recorded its thirteenth consecutive month of expansion, and the index moved further above the 50-point threshold that separates expansion from contraction in the manufacturing sector.



September’s result reflected expansions in new orders, new exports, factory output and inventory levels, leading to the first rise in employment after four consecutive months of job losses.



Meanwhile, the electronics PMI edged up from 53.2 in August to 53.6 in September, the highest level in over seven years.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the panel sees manufacturing output expanding 1.5%.


Author: Massimo Bassetti, Economist

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Singapore PMI September 2017

Note: Purchasing Managers’ Index. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate a contraction.
Source: Singapore Institute of Purchasing and Materials Management (SIPMM).


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