Singapore PMI up 0.2 point in November, echoes improved regional factory activity

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SINGAPORE’S overall factory activity rose in November, mirroring a region-wide improvement in manufacturing sentiment.

The Purchasing Managers’ Index went up to 51 last month, an improvement of 0.2 point from October, which registered a marginal dip, data from the Singapore Institute of Purchasing and Materials Management (SIPMM) showed on Monday (Dec 2).

A reading above 50 indicates expansion.

The electronics sector PMI came in at 51.6 in November, also marking a 0.2-point gain after briefly skidding the month before.

This marks the 15th month of expansion for the overall manufacturing sector, and the 13th month for the electronics one.

Economists told The Business Times that the positive readings likely indicate some degree of front-loading of production and exports by manufacturers hoping to avoid any potential tariffs that US President-elect Donald Trump may impose.

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A telltale sign is the improvement in the indices for new orders, new export orders and output, all of which saw “particularly stark” improvement, said UOB associate economist Jester Koh.

Just last week, Trump vowed to levy tariffs on three of America’s closest trading partners, including China, once he returns to the Oval Office on Jan 20.

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