Singapore: The manufacturing sector off to a good start in 2018
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) rose to 53.1 in January from 52.8 in December, marking the best result since December 2009. As a result, the manufacturing sector recorded its 17th consecutive month of expansion, moving further above the 50-point threshold that separates expansion from contraction in the manufacturing sector.
January’s result reflected a nearly broad-based improvement: Faster expansions were recorded in factory output, new orders and new export orders, which more than offset a marginally slower expansion in new employment.
Meanwhile, the electronics PMI edged down from December’s 53.2 to 52.9 in January, nonetheless signaling still-healthy expansionary conditions.