Electronics PMI also expanded by 0.4 ppt to 52.0.
Singapore’s manufacturing purchasing managers’ index (PMI) recorded a rise of 0.3 ppt from July to seal a higher expansion of 52.6 in August, mainly pushed by higher new orders and new exports, the Singapore Institute of Purchasing and Materials Management (SIPMM) revealed.
The report noted that both factory output expanded higher to 53.7 whilst inventory level is lowest since August 2017 at 52.0. The sector’s employment index saw its 12th straight month of growth to 51.0 from 50.7 in July.
Meanwhile, the stocks of finished goods eased down its growth to 53.0 whilst the order backlog index has reverted to a marginal expansion of 50.2. Both the imports and input prices posted marginally higher expansion rates at 52.3 and 51.4, respectively.
For the electronics sector, PMI continued to expand further with a growth of 0.4 points to 52.0 from 51.6 in July at the back of higher expansion rates in the key indicators of new orders, new exports, factory output, and employment.
The imports index and input prices indices both recorded higher expansion rates to 51.7 and 51.1, respectively. Meanwhile, the supplier deliveries index cooled down its growth to 51.8 whilst the electronics order backlog index slipped for the fourth month to 49.7.
Do you know more about this story? Contact us anonymously through this link.