Electronics sector reaches strongest performance since 2018
Singapore’s Purchasing Managers’ Index (PMI) rose to 50.9 in August, marking its highest level in three years, according to data from the Singapore Institute of Purchasing and Materials Management (SIPMM). This 0.2-point increase indicates continued growth in the manufacturing sector, which has now expanded for 12 consecutive months.
Key Highlights
The electronics sector recorded its best performance since September 2018, sustaining expansion for the 10th straight month.
A PMI above 50 signifies economic expansion, while a reading below 50 indicates contraction.
Outlook for Manufacturing
The positive momentum in manufacturing suggests improving demand and business confidence, reinforcing Singapore’s economic resilience amid global uncertainties. Analysts anticipate steady growth, particularly in semiconductors and electronics, which remain crucial to the nation’s industrial landscape.
