Singapore PMI December 2016

Singapore

Singapore: Manufacturing PMI scores best result in over two years in December

January 5, 2017

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) edged up from 50.2 in November to 50.6 in December. The index thus moved further above the 50-threshold that separates expansion from contraction in the manufacturing sector, and marked the highest reading since November 2014.

December’s result mainly reflected an improvement in output, employment and new orders, with the latter achieving the best result in over 23 months. Conversely, deteriorations were recorded in delivery times and imports.

The electronics PMI increased from 50.5 in November to 51.2 in December, the best reading since October 2014.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.8% in 2017, which is down 0.7 percentage points from last month’s forecast. For 2018, the panel sees manufacturing output expanding 1.5%.


Author: Massimo Bassetti, Economist

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Singapore PMI December 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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