
Manufacturing sector continues expansion as December PMI edges up to 51.1
December marks the 16th month of expansion for the overall manufacturing sector.
December saw a faster expansion of the Purchasing Managers' Index (PMI), edging up by 0.1 point to 51.1 from November.
The Singapore Institute of Purchasing and Materials Management (SIPMM) attributed the slowdown to a faster expansion rate in the key indexes of new orders, new exports, factory output, input purchases, and employment.
In contrast, indexes for supplier deliveries, finished goods, input prices, order backlog and future business recorded slower expansion rates.
Meanwhile, December marked the 19th consecutive month of expansion for the order backlog index and the 18th straight month of growth for the future business index.
“The latest PMI readings indicate a positive outlook for the manufacturing sector going into the new year,” said Stephen Poh, executive director of SIPMM.
Poh, however, said local manufacturers are wary of geopolitical tensions and uncertain U.S. trade policies.