Singapore: Manufacturing PMI falls below threshold in April
Latest reading: The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI declined to 49.6 in April from 50.6 in March. As a result, the index moved below the 50.0 no-change threshold for the first time since September 2023 and signaled a deterioration in manufacturing-sector operating conditions compared to the previous month. Similarly, the electronics PMI declined to 49.8 in April (March: 50.9), moved below the 50.0 no-change threshold, and signaled softer momentum in the sector.
The latest PMI reading reflects declines in key indexes such as new orders, factory output, and employment. Additionally, input purchases expanded at a slower rate.
Regarding prices, the input prices index showed a faster contraction. Moreover, future business expectations reverted to contraction after 21 months of continuous expansion amid order deferments and cancellations due to high reciprocal tariffs.