Singapore: Manufacturing PMI improves further in July
The Singapore Institute of Purchasing and Materials Management (SIPMM) Manufacturing PMI rose to 50.7 in July from 50.4 in June. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing-sector operating conditions compared to the previous month. Meanwhile, the electronics PMI fell to 51.0 in July (June: 51.2), signaling a sustained—albeit softer—improvement in the subsector’s operating conditions compared to the previous month.
The manufacturing sector’s improvement was primarily driven by faster expansions in new orders, new exports, production and purchasing activity. Additionally, there was a slower contraction in the employment index. Meanwhile, vendor performance deteriorated compared to the prior month.
On the price front, input prices rose at a softer rate. Regarding business sentiment, manufacturers maintained a positive outlook for the sector, particularly in the electronics segment, as evidenced by the expansion of the future business index for the 12th consecutive month.