The Singapore PMI edged up to 50.7 in December of 2021 from 50.6 in the previous month, pointing to the eighteenth straight month of expansion amid improving economic conditions and echoed the rising optimism elsewhere in Asia despite heightened concerns about Omicron and supply chain disruptions. A slightly faster expansion rates in indices of new orders, new exports, factory output, inventory and employment offset the lower expansion rates in indices of input prices, supplier deliveries, order backlog and finished goods. Ms Sophia Poh, SIPMM vice-president for industry engagement and development, said that local manufacturers expect manufacturing growth to continue and global pandemic to become endemic in the new year while UOB economist Barnabas Gan expects full-year manufacturing to grow by an average of 4 per cent, underpinned by the buoyant global trade activity, while cautioning against Omicron and sustained rise in prices on the manufacturing outlook. source: Singapore Institute of Purchasing & Materials Management, SIPMM
Manufacturing PMI in Singapore averaged 50.38 points from 2012 until 2021, 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 January of 2022.
Manufacturing PMI in Singapore is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Manufacturing PMI is projected to trend around 51.00 points in 2023, according to our econometric models.