The Singapore Manufacturing PMI increased to 49.8 in July of 2019 from 49.6 in the previous month, but marking the third consecutive month of contraction. New orders, factory output and new exports returned to tepid growth while order backlogs shrank for its tenth straight month. Meanwhile, the electronics sector PMI, edged up to 49.3 from 49.2 amid slower contractions in new orders, new exports, inventory, and employment. Manufacturing PMI in Singapore averaged 50.57 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 49.10 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 50.10 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.