PMI in expansionary territory anew in January at 58.0

SG's PMI grew at the quickest pace compared to six other ASEAN nations.

Singapore’s headline purchasing managers’ index (PMI) was in expansionary territory anew in January at 58.0, based on the data from IHS Markit.

Compared to its ASEAN neighbours namely Indonesia, Malaysia, Myanmar, Philippines, Thailand, and Vietnam, Singapore’s PMI grew at the quickest pace.

This also marks the fourteenth straight month in which Singapore's PMI printed above the neutral 50.0 thresholding. A reading above 50 indicates an overall increase in the PMI.

Last December 2021, Singapore’s headline reading was 55.1.

Taking into account all PMI readings in the seven ASEAN nations, the headline PMI reading for the region was 52.7.