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Singapore PMI September 2023

Singapore: Manufacturing PMI registers first improvement in six months

The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI rose to 50.1 in September from 49.9 in August. Consequently, the index moved above the 50.0 no-change threshold, signaling a marginal improvement in manufacturing sector operating conditions compared to the previous month. The electronics PMI rose to 49.8 in September (August: 49.5); despite the uptick, it remained below the 50.0 threshold.

The headline print marked the first improvement in operating conditions in six months, suggesting the manufacturing sector’s slump may be over. That said, the electronics sector continued to struggle, likely due to unsupportive underlying dynamics.

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