Singapore Manufacturing PMI

Singapore’s Manufacturing PMI edged up 0.2 point to 50.2 in November from 50.0 in October, marking the fourth consecutive month above the 50-point threshold and the highest reading in eight months, signaling steady expansion in the sector. The gain was largely driven by the electronics segment, which accounts for roughly 40% of total manufacturing output. The electronics PMI rose 0.2 point to 50.6, extending a six-month streak of expansion, underpinned by robust demand for AI-related servers and components, as well as US tariff exemptions on electronics products. New orders and new export orders have improved since April, though they remain below the levels seen in the first quarter prior to the US “Liberation Day” tariffs. Forward-looking business indicators suggest that AI-driven demand could maintain resilience in the medium term, providing continued support to Singapore’s manufacturing growth.