Singapore: Manufacturing sector rebounds at the start of the year
February 4, 2013
In January, the manufacturing PMI elaborated by the Singapore Institute of Purchasing & Materials Management (SIPMM) rose to 50.2 points. The figure was up from the 48.6 points observed in December and overshot market expectations of 48.8 points. As a result, the index rose above the 50-point threshold that indicates an expansion in the manufacturing sector for the first time in seven months.
The January print reflected an improvement in eight out of the nine categories that compose the index, with the new export orders category recording the largest gain. In addition, the majority of the categories composing the index remained above the 50-point threshold, with the employment sub-index rising to its highest level in almost two years.
Meanwhile, a separate PMI elaborated for the all-important electronics sector also improved over the previous month. In January, the index rose to 49.9 points from 46.6 points in December.