Singapore's SIPMM Manufacturing PMI dropped to 49.5 in September of 2019, the lowest since July 2016, from 49.9 in the previous month, as factory output and new orders dipped into contraction. Additionally, employment and new exports continued to shrink. Meantime, the electronics sector PMI, edged down to 49.1 from 49.4, as new orders fell further. Manufacturing PMI in Singapore averaged 50.55 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 49.90 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 50.80 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.