Singapore March manufacturing output steps up
The Singapore Purchasing Manager's Index recorded a two-year high in the latest data, for March 2021.
The Singapore Purchasing Manager's Index (PMI) increased by 0.3 points in March, to 50.8 points. This is the highest recording since March 2019, which was also at 50.8.
The PMI, compiled monthly by the Singapore Institute of Purchasing and Materials Management (SIPMM), measures the strength of the manufacturing sector, by polling over 200 purchasing managers. Production output, new orders, supplier deliveries, inventory and employment are all factored into the computation.
A PMI of over 50 indicates an expansion compared to the month previous, while a PMI under 50 indicates a contraction.
The PMI of the electronics sector dipped by 0.2 points to 50.6 compared to the previous month. Still, the sector has seen positive growth since August last year.