The electronics sector PMI posted a slight increase of 0.2 point from the previous month to post a faster rate of expansion at 51.0.“The latest sector reading was attributed to faster expansion rates for the key indexes of new orders, new exports, factory output and employment,” said SIPMM.
The inventory index also expanded but at a slower rate, whereas the indexes of finished goods, imports and input prices expanded at a faster pace. Lastly, the indexes of supplier deliveries and order backlog expanded at a slower rate with the order backlog index recording 14 months of continuous expansion.
Ms Sophia Poh, SIPMM’s vice president of industry engagement and development, said the latest set of PMI readings – in particular the electronics sector – “augur well for the Singapore manufacturing growth”. “However, local manufacturers continue to be concerned about supply chain disruptions arising from possible re-tightening of COVID-19 measures in a region where infections are increasing at an alarming rate and vaccination programmes are slow,” she added.
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