Singapore PMI July 2017

Singapore

Singapore: Manufacturing PMI virtually unchanged in July

August 3, 2017

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched up from 50.9 in June to 51.0 in July. Therefore, the manufacturing sector recorded its eleventh consecutive month of expansion as the index moved slightly further above the 50-point threshold that separates expansion from contraction in the manufacturing sector.

July’s result reflected improvements in new orders, new exports and factory output which more than offset a further contraction in employment.

Meanwhile, the electronics PMI inched up from 52.1 in June to 52.2 in July.

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 July 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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