Singapore: Manufacturing PMI virtually unchanged in April
May 3, 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing and Materials Management (SIPMM) decreased marginally to 52.9 in April from 53.0 in March, remaining well above the crucial 50-point mark that separates expansion from contraction in Singapore’s manufacturing sector and logging a 20th consecutive month of expansion. It has remained fairly stable over the last six months. April’s result reflected slightly slower growth in new orders, new exports and factory output.
The electronics PMI edged down slightly to 52.2, from 52.4 in March, and has now tracked below the manufacturing PMI for three consecutive months, having until recently been the main driver of growth in the manufacturing sector. The decrease was driven by slower growth in factory output, new orders and new exports.
Author: Jan Lammersen, Economist