October 5, 2015

The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) fell from 49.3 in August to 48.6 in September, which marked the lowest value since December 2012. As a consequence, the index is now further below the 50-threshold that separates contraction from expansion in the manufacturing sector.



September’s result reflected deteriorations in seven of the nine sub-components that comprise the index, with only finished goods and imports recording improvements. Output recorded the largest decease compared to the previous month.



Also, the electronics PMI decreased from 49.0 in August to 48.5 in September, thus falling further below the 50-threshold.

FocusEconomics Consensus Forecast panelists expect manufacturing output to grow 0.7% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees manufacturing output expanding 3.5%.