Singapore’s manufacturing sector expands for 22nd consecutive month
The Purchasing Manager's Index edged up to 0.2.
The manufacturing sector recorded 22 consecutive months of expansion as the Purchasing Managers’ Index (PMI) inched up 0.2 from 50.1 in March 2022 to 50.3 in April 2022, the Singapore Institute of Purchasing and Materials Management (SIPMM) said.
The electronics sector PMI also logged an increase of 0.3 point from 50.4 last month to 50.7 this April. This showed that the electronics industry recorded 21 consecutive months of expansion.
Reacting to this, SIPMM Vice President Sophia Poh said the latest readings were favourable for the manufacturing industry even as there were several global market risks.
“There appears to be no end in sight to the Russia-Ukraine conflict, and local manufacturers are increasingly concerned about the rising energy cost, supply disruptions, and inflationary pressures,” added Poh.
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