Singapore: Manufacturing PMI rises in November
Latest reading: The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI rose to 50.2 in November from 50.0 in October. As a result, the index moved further above the 50.0 no-change threshold and signaled a faster improvement in manufacturing-sector operating conditions compared to the previous month. Meanwhile, the electronics PMI rose to 50.6 in November (October: 50.4), moved further above the 50.0 no-change threshold and signaled a faster improvement momentum in the sector.
The latest PMI performance was primarily driven by faster expansion of new orders, new exports and input purchases.
Regarding prices, input costs rose at a faster pace. However, business sentiment rebounded after seven consecutive months of contraction: This optimism is likely buoyed by sustained global demand for AI chips and server hardware, as well as increased demand in the electronics sector, driven by data center infrastructure needs and a seasonal rise in consumer electronics purchases.