Singapore: Manufacturing PMI rises in April
Latest reading: The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI rose to 50.7 in April from 50.5 in March, hitting an over one-year high. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in manufacturing operating conditions compared to the previous month. Meanwhile, the electronics PMI rose to 51.7 in April (March: 51.4).
The latest PMI reading was driven by stronger expansion in new orders, new exports, factory output, input purchases, and employment. Still, the supplier deliveries index contracted for the fourth consecutive month, indicating longer lead times.
Firms’ sentiment remained positive, underpinned by the global AI super-cycle driving demand in electronics and semiconductors, with additional support from precision and transport engineering. That said, supply chain constraints linked to Middle East maritime blockades and helium shortages continued to inflate costs and extend delivery lead times.