Singapore PMI April 2017

Singapore

Singapore: Manufacturing PMI virtually unchanged in April

May 4, 2017

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 51.2 in March to 51.1 in April. Nevertheless, the index remained above the 50-point threshold that separates expansion from contraction in the manufacturing sector for the eighth consecutive month.

April’s result reflected slightly slower growth rates in new orders, new exports and job hiring which more than offset a faster growth rate in factory activity.

Meanwhile, the electronics PMI decreased slightly from 51.8 in March to 51.6 in April.

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 April 2017

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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