Singapore: PMI rises further in October
November 12, 2014
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) increased from 50.5 points in September to 51.9 points in October. As a result of the increase, the PMI moved further above the 50-threshold that separates expansion from contraction in the manufacturing sector. This also marked the second consecutive month in expansionary territory following August’s decline. The reading, which exceeded the 50.5 points that markets had expected, was driven by improvements in eight of the nine categories that comprise the index. Input prices were the only category that recorded a decline compared to the previous month.
The electronics PMI also expanded over the previous month. The index increased from 51.9 points in September to 52.5 points in October. The result came in above the 51.8 points that the markets had expected.
Author: Cecilia Simkievich, Economist