Singapore manufacturing PMI eases to 51.4 in October: expansion slows but continues, electronics PMI down to 52.5

Singapore's manufacturing activity continued to expand in October, but at a slower pace. The purchasing managers' index, compiled by the Singapore Institute of Purchasing and Materials Management (SIPMM), eased to 51.4 in October from 51.7 in September, SIPMM said Monday. The moderation was driven by slower growth in new orders, factory output, input inventories and employment.

Electronics cools too, but stays in expansion

The PMI for electronics, which accounts for about one-third of Singapore's manufacturing output, cooled to 52.5 in October from 52.9 in September. The latest readings point to the sector cooling from a high base, not losing momentum, said Stephen Poh, SIPMM's executive director. RHB Bank's Barnabas Gan expects resilient AI demand and the ongoing tech upcycle to support export momentum through the year's end, but noted that the outlook remains weighed by risks.