Manufacturing PMI inches up 0.1 to 50.7 in December

Meanwhile, the electronics sector PMI crawled up to hit 51.

The Singapore Institute of Purchasing & Materials Management pointed to a 0.1 increase in December 2021’s Purchasing Manager’s Index (PMI).

This follows an 18-month period of continued expansion.

Meanwhile, the electronic sector PMI also echoed this sentiment with an addition of 0.2 points to settle at 51. 

UOB’S Barnabas Gan points to faster expansion rates in new orders, exports, factory output, inventory and employment.

He also confirms that the reading is in line with the general improvement across Singapore’s economic condition, following expansions in November’s non-oil domestic exports and industrial production by 24.2% and 14.6% year-on-year, respectively.