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 senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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