The October reading of the Singapore Purchasing Managers’ Index (PMI) dipped 0.2 point from the previous month to post a second month of continued contraction at 49.7. The latest PMI reading was attributed to a faster contraction in the key indexes of new orders, factory output and inventory. The Electronics Sector PMI recorded a decline of 0.3 point from the previous month to post a further contraction at 49.1. The latest sector reading was attributed to a faster contraction in the key indexes of new orders, new exports, factory output, inventory and employment.
Global economic headwinds arising from the macroeconomic risks of high inflation and geopolitical uncertainties have continued into the final quarter of this year. These uncertainties in the global trade environment coupled with mounting cost pressures are weighing on demand despite the year-end festive seasons, and local manufacturers, in particular the electronics sector, have been scaling back investment plans.Ms Sophia Poh, Vice President, Industry Engagement & Development
|Month/Year||Singapore PMI||Electronics Sector PMI|