Singapore PMI March 2018

Singapore

Singapore: Manufacturing PMI rises in March

April 4, 2018

The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) increased to 53.0 in March from 52.7 in February. It remained well above the crucial 50-point mark that separates expansion from contraction in Singapore’s manufacturing sector, logging a 19th consecutive month of expansion. March’s result reflected a pick-up in factory output, new orders and new exports. However, employment grew at a softer pace than in the prior month.

The electronics PMI edged up slightly, from 52.1 in February to 52.4 in March, remaining in expansionary territory. The increase was driven by quicker growth in factory output, inventory, new orders and new exports.

Singapore Manufacturing Output Forecast


FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.5% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees manufacturing output expanding 1.6%.


Author:, Economist

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Singapore PMI Chart


Singapore PMI February 2018 1

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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