Singapore PMI February 2017


Singapore: Manufacturing PMI virtually unchanged in February

March 3, 2017

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched down from 51.0 in January to 50.9 in February. The index thus remains above the 50-point threshold that separates expansion from contraction in the manufacturing sector.

February’s result reflected slower growth in new orders, new export orders and output. Conversely, employment and stocks of purchases both grew at a faster rate in February than in the previous month.

The electronics PMI decreased from a multi-year high of 51.8 in January to 51.4 in February.

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 Chart

Singapore PMI February 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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