Singapore: Manufacturing PMI rises further above threshold in January
Latest reading: The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI rose to 50.5 in January from 50.3 in December. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing-sector operating conditions compared to the previous month. Meanwhile, the electronics PMI rose to 51.1 in January (December: 50.9).
The latest manufacturing PMI reading was mainly driven by stronger expansions in new orders, new exports and factory output, while delivery times for final goods lengthened and employment returned to growth. In contrast, growth in input purchases slowed.
In terms of prices, input costs rose more quickly than in the prior month, while prices for finished goods declined. Despite rising input price pressures, expectations for future business activity remained positive for a third straight month, indicating continued optimism among firms.