Singapore's PMI drops to 49.3 in July

Electronics PMI also fell to 49.5.

OCBC says new orders and new export orders contracted for the second straight month in July.

Here’s more from OCBC:

Singapore’s PMI fell from June’s 50.4 to 49.3 in July (contraction territory) as new orders and new export orders contracted for the second straight month and production also dipped into contraction. This is in line with global PMIs that similarly reflected slowing manufacturing momentum amid a slowing global demand environment, especially given the recent US debt ceiling deadline and the European peripheral debt crisis. The electronics PMI also fell from 50.9 to 49.5 in July, corroborating the weakness that was already evident in the recent domestic NODX and industrial production data, and given the US semiconductor book-to-bill ratio had clearly softened since March this year. Our view is this could be a soft patch akin to the depressed PMI readings between Aug-Sep 2010 which subsequently rebounded from October onwards as manufacturing momentum reaccelerated in preparation for the Q4 Christmas season.

Photo from Gualterio Pulvirenti

Also Read

Singapore ranks second in global economic freedom

Economists forecast modest NODX growth for Singapore in 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit