The Singapore Manufacturing PMI increased to 50.8 in March of 2019 from an over two-year low of 50.4 in the previous month, reversing a 6th straight month of declines. New orders, new exports, inventory, output and employment rose at a faster pace while input prices rebounded. In contrast, supplier deliveries increased less and order backlogs contracted for the sixth consecutive month. Meantime, the electronics sector PMI rose to 49.8 from 49.5 in February. Manufacturing PMI in Singapore averaged 50.60 from 2012 until 2019, reaching an all time high of 53.10 in January of 2018 and a record low of 48.30 in October of 2012.
Manufacturing PMI in Singapore is expected to be 50.50 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Singapore to stand at 52.00 in 12 months time. In the long-term, the Singapore Manufacturing PMI is projected to trend around 50.40 in 2020, according to our econometric models.