The Singapore Manufacturing PMI increased to 49.9 in August of 2019 from 49.8 in the previous month, but marking the fourth consecutive month of contraction. New orders and factory output expanded faster while inventory contracted at a softer pace. Meanwhile, new exports dipped into contraction for the first time since August 2016. Meantime, the electronics sector PMI, edged up to 49.4 from 49.3, as new orders, inventory, and employment contracted at a slower rate. Manufacturing PMI in Singapore averaged 50.56 from 2012 until 2019, reaching an all time high of 53.10 in January of 2018 and a record low of 48.30 in October of 2012.
Manufacturing PMI in Singapore is expected to be 49.10 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Singapore to stand at 50.10 in 12 months time. In the long-term, the Singapore Manufacturing PMI is projected to trend around 50.40 in 2020, according to our econometric models.