Singapore PMI climbs to 50.8 in March, highest since March 2019

Singapore

THE manufacturing sentiment in Singapore continued to improve in March and recorded a faster rate of expansion at 50.8, up 0.3 points from February, according to the Singapore Institute of Purchasing and Materials Management (SIPMM) release on the Purchasing Managers' Index (PMI) on Monday.

This marks the ninth month of expansion for the overall manufacturing sector, and is the highest since March 2019. A PMI of above 50 indicates expansion from the previous month, while a reading below 50 implies contraction.