Singapore: Manufacturing PMI falls in October
Latest reading: The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI declined to 50.0 in October from 50.1 in September. As a result, the index signaled a stagnation in manufacturing-sector operating conditions compared to the previous month. Meanwhile, the electronics PMI declined to 50.4 in October (September: 50.7) but remained above the 50.0 no-change threshold, indicating a slower pace of improvement in the sector.
The overall PMI moderation was driven by slower expansions in new orders, exports and input purchases. Moreover, both factory output and supplier delivery times reverted to contraction, while employment declined at a faster pace than in the prior month. By contrast, faster expansion rates were recorded for imports, and the order backlog index rose more moderately.
In terms of prices, the input price index recorded faster growth. Meanwhile, business sentiment contracted for the seventh consecutive month, albeit at a slower pace, underscoring persistent pessimism in the sector amid global uncertainty and geopolitical risks.