Singapore: September manufacturing PMI unchanged over previous month
October 2, 2013
In September, the manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) remained at August's 50.5 points. The reading was slightly below the 50.7 points the markets had expected, but the index remains above the 50-point threshold that indicates expansion in the manufacturing sector.
According to the manufacturing PMI, manufacturing of input prices and manufacturing of imports marked the highest increases, which were offset by a decrease in the manufacturing of new orders. On the other hand, the electronics PMI fell from 51.3 points in August to 50.3 points in September.
FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 1.1% in 2013, which is down 0.7 percentage points from last month's forecast. For 2014, the panel expects manufacturing output growth to accelerate to 4.8%, which is down 0.7 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist