Singapore PMI rises to 50.2 in November

It was driven by expanding indexes of new orders, new exports, and input purchases.

Singapore Purchasing Managers’ Index (PMI) rose 0.2 points month on month to 50.2 points in November, making it the fourth consecutive month of growth for the manufacturing sector.

The latest PMI performance was driven by faster expansion in the indexes of new orders, new exports, and input purchases, the Singapore Institute of Purchasing and Materials Management (SIPMM) said.

The growth was also supported by sustained global demand for artificial intelligence (AI) chips, server hardware, whilst the electronics sector also saw increased demand from data centres and consumer electronics purchases, said Stephen Poh, PMI executive director.

The factory output and supplier delivery indexes returned to expansion, whilst the employment index posted a slower rate of contraction.

Faster expansion rates were recorded for the imports and input prices, and the finished goods index posted a slower expansion rate.

The order backlog index slipped back, and the future business index rebounded into expansion, after seven consecutive months of contractions, the SIPMM said.

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Singapore Institute of Purchasing and Materials Management

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