Singapore PMI January 2018


Singapore: The manufacturing sector off to a good start in 2018

February 5, 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.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.5% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees manufacturing output expanding 1.6%.

Author: Massimo Bassetti, Senior Economist

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Singapore PMI Chart

Singapore PMI January 2018 1

Note: Purchasing Managers’ Index. Readings above 50 points indicate an expansion in the manufacturing sector while readings below 50 points indicate a contraction.
Source: Singapore Institute of Purchasing and Materials Management (SIPMM).

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