Singapore PMI June 2017

Singapore

Singapore: Manufacturing PMI virtually unchanged in June

July 4, 2017

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) inched up from 50.8 in May to 50.9 in June. Therefore, the index recorded its tenth consecutive month of expansion and moved slightly further above the 50-point threshold that separates expansion from contraction in the manufacturing sector.

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

Meanwhile, the electronics PMI decreased from 52.4 in May to 52.1 in June, dragged down by declines in new orders, new exports, factory output, inventory level and employment.

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 June 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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