Singapore PMI October 2016

Singapore

Singapore: Manufacturing PMI remains virtually unchanged in October

November 2, 2016

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 50.1 in September to 50.0 in October. The index thus coincides with the 50-threshold that separates expansion from contraction in the manufacturing sector. In September it had moved above the 50-threshold for the first time since June 2015.



October’s result reflected a deterioration in output and employment, with the latter achieving the worst result in eight months. Conversely, improvements were recorded in imports and new orders.



The electronics PMI increased from 50.3 in September to a two-year high of 50.8 in October.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2016, which is down 0.7 percentage points from last month’s forecast. For 2017, the panel sees manufacturing output expanding 1.5%, which is up 0.1 percentage points from last month’s projection.


Author: Massimo Bassetti, Economist

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Singapore PMI October 2016

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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