Singapore: PMI inches back into expansionary territory in September
October 2, 2014
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) increased from 49.7 points in August to 50.5 points in September. September’s reading exceeded the 50-threshold which separates expansion from contraction in the manufacturing sector, thus returning the index to expansionary territory following August’s decline. September’s result, which exceeded the 49.9 points markets had expected, was driven by improvements in five out of the nine categories that comprise the overall index. The largest increases were registered in new orders and new export orders categories.
The electronics PMI also expanded over the previous month. The index increased from 50.7 points in August to 51.9 points in September. The result came in above the 50.6 points markets had expected.
Author: Cecilia Simkievich, Economist