Singapore PMI summary as of May 2022

The May reading of the Singapore Purchasing Managers’ Index (PMI) edged up 0.1 point from the previous month to post a slightly faster expansion at 50.4. The overall manufacturing sector had recorded 23 consecutive months of expansion. The Electronics Sector PMI posted a decrease of 0.2 point from the previous month to record a slower rate of expansion at 50.5. The electronics sector had recorded 22 consecutive months of expansion.

Despite continuing growth of the overall manufacturing sector, growth in the electronics industry appeared to be moderating. This could be a result of the prolonged uncertainties arising from the Russia-Ukraine conflict and rising supply costs. Global demand had also weakened due to the massive lockdowns in China and a slowing growth in the EU.

Ms Sophia Poh, Vice President, Industry Engagement & Development

Month/Year	Singapore PMI	Electronics Sector PMI
May 2022	50.4	50.5
April 2022	50.3	50.7
March 2022	50.1	50.4
February 2022	50.2	50.5
January 2022	50.6	50.8
December 2021	50.7	51.0
November 2021	50.6	50.8
October 2021	50.8	51.1
September 2021	50.8	51.2
August 2021	50.9	51.0
July 2021	51.0	50.8
June 2021	50.8	50.6
May 2021	50.7	50.4
April 2021	50.9	50.7
March 2021	50.8	50.6
February 2021	50.5	50.8
January 2021	50.7	51.0
December 2020	50.5	51.2
November 2020	50.4	51.1
October 2020	50.5	51.0
September 2020	50.3	50.9
August 2020	50.1	50.6
July 2020	50.2	49.2
June 2020	48.0	47.6
May 2020	46.8	46.2
April 2020	44.7	42.8
March 2020	45.4	44.1
February 2020	48.7	47.6
January 2020	50.3	50.1
December 2019	50.1	49.9
November 2019	49.8	49.7
October 2019	49.6	49.3
September 2019	49.5	49.1
August 2019	49.9	49.4
July 2019	49.8	49.3
June 2019	49.6	49.2
May 2019	49.9	49.4
April 2019	50.3	49.5
March 2019	50.8	49.8
February 2019	50.4	49.5
January 2019	50.7	49.6

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