Singapore Economy, Purchasing Managers' Index, Pmı

Singapore Economy, Purchasing Managers' Index

Singapore factory activity expands slightly in July after 5 months of contraction

Singapore factory activity expands slightly in July after 5 months of contraction

3/8/2020 4:32:00 PM

Singapore factory activity expands slightly in July after 5 months of contraction

SINGAPORE: Singapore’s factory activity expanded slightly in July after five months of contractions. The Purchasing Managers’ Index ( PMI ) for ...

SINGAPORE: Singapore’s factory activity expanded slightly in July after five months of contractions.The Purchasing Managers’ Index (PMI) for July came in at 50.2, up 2.2 points from the previous month, according to data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday (Aug 3).

24 new community COVID-19 cases in Singapore, 17 linked to Changi Airport cluster Yio Chu Kang Primary School to conduct home-based learning after student tests positive for COVID-19 Covid-19: 4 cleaners at Changi Airport T3 among new cases as cluster grows to 46

AdvertisementAdvertisementA PMI reading above 50 indicates that the manufacturing economy is generally expanding, while a reading below 50 indicates that it is generally declining.Singapore implemented a “circuit breaker” from Apr 7 to Jun 1 to curb the spread of COVID-19. The country entered Phase 1 of its reopening on Jun 2, followed by Phase 2 on Jun 19.

July’s reading was attributed to an improvement in new orders index, a first-time expansion in the indexes of new exports and factory output, as well as a faster rate of expansion in the inventory index, said SIPMM.AdvertisementAdvertisementSlower contractions were also recorded for the indexes of finished goods, imports, and input prices, while the order backlog index expanded for the first time after five months of contractions, said SIPMM.

However, the indexes of both employment and supplier deliveries contracted at faster rates. The overall employment index for the manufacturing sector also posted contractions for six consecutive months.This suggests that the improvement in manufacturers’ sentiments has not extended to greater hiring intentions and global supply disruptions has eased but not fully subsided, said Ms Selena Ling, head of treasury research and strategy at OCBC Bank.

Ms Sophia Poh, SIPMM’s vice president of industry engagement and development, said July’s reading was a “welcome respite” for Singapore’s manufacturing sectors.“Local manufacturers remain concerned about the growth outlook due to continued uncertainties from the pandemic controls and the trade disputes of the major economies,” she added.

“The second and third waves of the COVID-19 pandemic in the major economies continue to disrupt global supply chains and dampen global demand.”READ: Pratt & Whitney lays off 20% of Singapore workforce due to COVID-19The electronics sector PMI rose 1.6 points from the previous month to post a slower contraction at 49.2 - the sixth month of contraction for the sector, said SIPMM.

July’s improved reading for the electronics sector was attributed to “slower contractions in the key indexes of new orders, new exports, and factory output”, it added.However, both electronic employment and supplier deliveries recorded faster rates of contraction.

24 new community COVID-19 cases in Singapore, including private tutor, 2 maids U.S. calls Xinjiang an 'open-air prison,' decries religious persecution by China US seizes shipment from Malaysia's Top Glove over forced labour concerns

The electronics inventory index continued to expand for the third month, whereas electronics finished goods continued to contract for the fifth month.SIPMM added that the electronics indexes of input prices and order backlog posted expansion readings, while the electronics imports index posted a slower rate of contraction.

Read more: CNA »

1.8 million people have received at least one dose of COVID-19 vaccine: Health minister

A total of 1.2 million people have completed the full vaccination regimen, says Mr Gan Kim Yong.

WEEKLY ROUND-UP: Sports happenings in Singapore (27 July-2 Aug)Here is a round-up of sports events and developments in Singapore in the past week (27 July-2 August).

Slower decline of Japan's July factory activity raises recovery hopesTOKYO: Japan's factory activity contracted at the slowest pace in five months in July, in a sign that pressures on manufacturers were easing ...

Global investors drive record inflows into Chinese bonds in July[SHANGHAI] Foreign investors made record net purchases of Chinese bonds traded through the country's Bond Connect programme in July, boosted by record yield premiums over US debt. Read more at The Business Times.

US' Covid-19 deaths in July top 25,000WASHINGTON • US coronavirus deaths rose by over 25,000 in July and cases doubled in 19 states during the month, according to a Reuters tally, dealing a crushing blow to hopes of quickly reopening the economy.. Read more at

Brazilian Amazon fires surge in JulyRIO DE JANEIRO (AFP) - The number of forest fires in the Brazilian Amazon last month rose 28 per cent from July 2019, satellite data showed on Saturday (Aug 1), fuelling fears the world's biggest rainforest will again be devastated by fires this year.. Read more at

South Korea's July exports record slowest decline in 4 months[SEOUL] South Korean exports fell the slowest in four months and beat market expectations, data showed on Saturday, a further sign a recovery in Asia's fourth-largest economy is gaining traction, although threats loom from global flare-ups in the Covid-19 pandemic. Read more at The Business Times.