Singapore PMI August 2016

Singapore

Singapore: Manufacturing PMI recovers slightly in August

September 5, 2016

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.3 in July to a three-month high of 49.8 in August. This brought the index closer to but still below the 50-threshold that separates contraction from expansion in the manufacturing sector.



August’s result reflected an improvement in five of the nine sub-components that comprise the index, including new orders, output and new export orders. However, deteriorations were recorded in imports and stocks of purchases, among others.



The electronics PMI also increased from 49.7 in July to a 14-month high of 50.2 in August, bringing it just above the 50-threshold and into mildly expansionary territory.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.4% in 2016, which is up 1.8 percentage points from last month’s forecast. For 2017, the panel sees manufacturing output expanding 1.3%.


Author: Massimo Bassetti, Economist

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