Singapore manufacturing PMI expands in March

singapore

Singapore Institute of Purchasing & Materials Management (SIPMM) reported that the Singapore Purchasing Managers’ index (PMI) rose to 50.6 points last month from 49.4 points in February. A reading above 50 signals expansion in manufacturing and below signals contraction. The expansion last month came after a holiday-driven contraction in February as new orders flowed in.

In January reading of the Singapore Purchasing Managers’ Index (PMI) indicated that the manufacturing economy expanded for the first time after having previously recorded 6 months of continuous contraction. The PMI posted a reading of 50.2, which was an increase of 1.6 points over the previous month. Then PMI reversed to slowdown in February and manufacturing activity in Singapore recovered again in March.

The increase in the overall PMI was attributed to expansion in new orders and new export orders.  Stockholdings of finished goods and employment reverted to expansion whilst production output and imports continued to contract. Inventory expanded for and input prices continued to expand.

The Chinese New Year – observed in February – was partly responsible for the decline in manufacturing in that month after Singapore’s PMI survey showed the sector expanding in January.

Surveys in China, Taiwan, Indonesia and South Korea all showed factory activity expanding for March as an improving US economy and solid regional demand fuelled Asian manufacturing.

Singapore Overall PMI

2013

2012

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

50.6

49.4

50.2

48.6

48.8

48.3

48.7

49.1

49.8

50.4

50.4

49.7

Source : Singapore Institute of Purchasing & Materials Management (SIPMM)

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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