Singapore: Manufacturing PMI falls in July
Latest reading: The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI inched down to 49.9 in July from 50.0 in June. As a result, the index moved below the 50.0 no-change threshold and signaled a deterioration in manufacturing-sector operating conditions compared to the previous month. Meanwhile, the electronics PMI rose to 50.2 in July (June: 50.1), moving further above the 50.0 no-change threshold and signaling stronger improvement momentum in the sector.
Both factory output and employment weakened and have been contracting for four consecutive months, indicating persistent challenges within the manufacturing sector. Moreover, finished goods inventories, order backlogs, and supplier deliveries deteriorated.
Regarding prices, the input prices index reverted to a marginal contraction, suggesting a slight easing of cost pressures for manufacturers. As for business sentiment, the future business index contracted at a softer pace but remained entrenched in negative territory, reflecting ongoing concerns among local manufacturers about uncertain global trade policies and tariffs.