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Singapore PMI April 2024

Singapore: April manufacturing PMI remains optimistic

The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI fell to 50.5 in April from 50.7 in March. As a result, the index remained above the 50.0 no-change threshold and signaled a sustained improvement in manufacturing sector operating conditions compared to the previous month. Meanwhile, the electronics PMI rose to 50.9 in April from 50.8 in March, moving further above the 50.0 no-change threshold and signaling improved momentum in the sector.

April saw an improvement in delivery times for the first time in nearly a year, resilient expansions in domestic and foreign new orders, and sustained growth in output. In addition, employment levels rose at a faster rate compared to the prior month.

Regarding prices and business sentiment, input prices rose at a slower rate, while the future business index expanded for the tenth consecutive month, signaling underlying optimism among manufacturers.

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