Singapore manufacturing PMI eases to 51.4 in October

Slower growth in new orders, factory output, and employment drove the moderation.

Singapore's manufacturing Purchasing Managers' Index (PMI) fell 0.3 points to 51.4 in October from 51.7 in September.

The moderation was attributed to slower growth in new orders, factory output, input inventories, and employment, according to the Singapore Institute of Purchasing and Materials Management (SIPMM).

Imports and order backlogs also expanded at a slower pace, whilst new exports and input prices recorded slightly faster growth.

Finished goods inventories contracted at a slower rate. The supplier deliveries index also contracted more slowly, indicating easing delivery delays.

The electronics sector's PMI declined 0.4 points to 52.5 from 52.9 in September, although demand for artificial intelligence (AI)-related products continued to support activity.

“October’s PMI readings point to a sector cooling from a high base, not losing momentum,” said SIPMM Executive Director Stephen Poh.

"Strong exports, AI-linked orders and elevated backlogs keep electronics the main pillar of manufacturing growth," Poh said.

However, he noted that factory output continued to lag behind orders, whilst higher input costs remained a concern.

"Easing supplier delays help, but renewed Middle East shipping disruption could constrain output," Poh added.

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