July manufacturing PMI rises to 51.4 on stronger orders

However, supplier deliveries deteriorated for the seventh consecutive month.

Singapore’s manufacturing activity expanded in July, with the Purchasing Managers’ Index rising 0.1 point from the previous month to 51.4.

The latest reading marked the sector’s 12th consecutive month of expansion, according to the Singapore Institute of Purchasing and Materials Management (SIPMM).

The increase was attributed to stronger growth in new orders, new exports, input purchases, and employment. However, factory output expanded at a slower pace.

SIPMM Executive Director Stephen Poh said the stronger order inflows and employment growth were partly due to demand from the artificial intelligence-driven semiconductor cycle.

“However, the collapse of the Middle East ceasefire has triggered a supply chain crisis, sending input prices soaring and severely crippling supplier delivery times,” Poh added.

Imports, input prices, and order backlogs recorded stronger growth during the month. In contrast, the finished-goods inventory index contracted at a faster rate.

Supplier deliveries deteriorated for the seventh consecutive month, with the index contracting more sharply due to longer lead times and supply-chain constraints.

The future business index remained in expansion territory for the ninth straight month, indicating that manufacturers continued to expect higher activity ahead.

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