Publication date: January 3, 2024 at 8:00 a.m. ET
Written by Ronnie Harui
SINGAPORE–Singapore’s manufacturing activity expanded for the fourth straight month in December, suggesting the sector’s recovery is further improving.
The Purchasing Managers’ Index rose to 50.5 in December from 50.3 in November, the Singapore Purchasing Materials Management Association said on Wednesday. It was cited faster…
Written by Ronnie Harui
SINGAPORE–Singapore’s manufacturing activity expanded for the fourth straight month in December, suggesting the sector’s recovery is further improving.
The Purchasing Managers’ Index rose to 50.5 in December from 50.3 in November, the Singapore Purchasing Materials Management Association said on Wednesday. The report cited faster growth in new orders, new exports, factory output and raw material purchases, but also noted a slowdown in employment growth. Numbers above 50 indicate expansion; numbers below indicate contraction.
“Given macroeconomic risks in major countries and ongoing geopolitical uncertainty, the latest PMI data certainly bodes well for manufacturing going into the new year,” said Stephen Poe, executive director of SIPMM. Stated.
“Nonetheless, local manufacturers, especially in the electronics sector, remain cautiously optimistic about a solid recovery as global electronics demand appears to be trending upwards,” he added. Ta.
The PMI for the electronics sector, which accounts for about a third of the city’s manufacturing activity, rose to 50.2 in December from 50.1 in November, the data showed.
Email Ronnie Harui at ronnie.harui@wsj.com.