Singapore’s manufacturing activity expands for 5th straight month in January

The Purchasing Managers' Index posted a reading of 51 last month, up from December's 50.6 reading.

Manufacturing activity in Singapore grew for the fifth straight month in January, according to data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Thursday (Feb 2).

The Purchasing Managers’ Index (PMI) – an early indicator of manufacturing activity – came in at 51 last month, an increase of 0.4 point from December. A reading above 50 means the manufacturing economy is expanding, while a reading below that indicates a contraction.

The expansion was due to a faster rate of increase in factory output, new orders, new exports and inventory holding, SIPMM said.

A corresponding index for the electronics sector also posted an expansion, with the PMI for December at 51.8, an increase of 0.6 point from the previous month.

Although the readings indicate a gradual growth of the manufacturing sector, SIPMM cautioned that the “global economy is still fraught with uncertainties”.

 

Source: Channel News Asia

3 February 2017

0 responses on "Singapore's manufacturing activity expands for 5th straight month in January"

Leave a Message

SIPMM - Singapore Institute of Purchasing and Materials Management

The Singapore Institute of Purchasing and Materials Management is the nation’s professional body for the LPS sector – the sector which includes professionals in Logistics, Procurement and Supply Chain. Since its founding in 1972, SIPMM has trained over 100,000 LPS professionals through its comprehensive suite of Specialised Qualifications, Executive Development Programmes as well as Specialised In-House Workshops across the region – which includes Multinational Firms, ICT Conglomerates, Governments, and the Armed Forces.

Join Us

Certificate of Competency

 

For Qualifications Certificate Validation, please click HERE.

top
© 2020 SIPMM. All Rights Reserved. Terms of Use