Singapore: Manufacturing PMI returns to expansionary territory in September
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September. This brought it above the 50-threshold that separates expansion from contraction in the manufacturing sector. The index had been resting in contractionary territory since June 2015.
September’s result reflected an improvement in six of the nine sub-components that comprise the index, including new orders, output and new export orders, with the latter achieving the best result in over one-and-a-half year. Deteriorations were recorded in imports and employment.
The electronics PMI also increased from 50.2 in August to a 15-month high of 50.3 in September, thus moving a bit further above the 50-threshold.