Singapore: Manufacturing PMI remains in contractionary territory in February
March 3, 2015
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 49.9 in January to 49.7 in February. The index has been on a downward trend since October of last year, when it recorded a multi-year-high of 51.9. February’s print marks the third consecutive reading below the 50-threshold that separates contraction from expansion in the manufacturing sector.
February’s reading reflected moderate improvements in employment, stocks of purchases, and input prices. The delivery times and manufacturing imports remained broadly unchanged compared to the previous month. Conversely, notable declines were recorded in new orders, new export orders and manufacturing output.
The electronics PMI moderated from 50.5 in January to 49.8 in February.
Author: Cecilia Simkievich, Economist