The Singapore Manufacturing PMI fell to 49.5 in May 2023 from 49.7 in April, staying contractionary for the third successive period amid the global economic slowdown. source: Singapore Institute of Purchasing & Materials Management, SIPMM

Manufacturing PMI in Singapore averaged 50.33 points from 2012 until 2023, reaching an all time high of 53.10 points in January of 2018 and a record low of 44.70 points in April of 2020. This page provides the latest reported value for - Singapore Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Manufacturing PMI in Singapore is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Singapore Manufacturing PMI

Related Last Previous Unit Reference
Manufacturing PMI 49.50 49.70 points May 2023

Singapore Manufacturing PMI
The Singapore PMI is a key barometer of a manufacturing sector in Singapore. A reading above 50 indicates that the factory activity is generally expanding and below 50 that the activity is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
49.50 49.70 53.10 44.70 2012 - 2023 points Monthly

News Stream
Singapore Factory Activity Contracts Further
The Singapore Manufacturing PMI slid to 49.7 in April 2023 from 49.9 in March, staying contractionary for the second successive period amid the global economic slowdown. The gauge of activity in the electronics sector, representing 42% of Singapore's industrial output, remained in the negative territory for the ninth month (at 49.2), dragged by falling demand for electronic goods from the country's major trading partners, namely, the United States, the European Union, and Japan, and deeper contractions in key areas such as new orders and inventories. Also, the order backlog recorded a decrease after two months of timid growth. Putting additional pressure on exports was China's economic rebound, which has so far proved to be elusive. UOB senior economist Alvin Liew said the worsening in the Singapore PMI is likely to continue, and second-half recovery is far from certain.
Singapore Manufacturing PMI Returns to Contraction
The Singapore Manufacturing PMI slid to 49.9 in March 2023 from 50 in February, returning to a contraction territory due to contagion fears and subdued demand in the global markets. The drag was attributed to a softer rise in new orders and a continued decline in new exports. Meanwhile, the factory output treaded cautiously at 50, and inventory & finished goods stocks added slightly. Also, the gauge of activity in the electronics sector, representing 40% of Singapore's industrial output, edged up (49.4 vs 49.3 in the previous month). Although the inflationary pressures have appeared to cool down, the upside risks remained following Opec's decision to cut production. The latest readings have not altered the uncertain outlook for the near-term prospects of manufacturing PMI.
Singapore Factory Activity Recovers in February
The Singapore Manufacturing PMI rose slightly to 50 in February 2023 from 49.8 in January, mainly due to growth in new orders and factory output, as well as a slower contraction in new exports. On the other hand, the employment index swung to a contraction at 49.8. In addition, thanks to the latest reading, Singaporean manufacturers posted renewed optimism regarding the sector, which has been affected by declining global demand and worsening macroeconomic risks such as higher inflation and interest rates.