Singapore: Good start for manufacturing sectorStaff Writer | February 6, 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.
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%. ■