S'pore Manufacturing Indicators in March at Lowest Level in Eight Months

Slowing further

- Colin Tan

Singapore's manufacturing sector is showing signs of even weaker growth ahead, with leading indicators declining a third consecutive month in March 2025 to their lowest level in eight months.

The purchasing managers' index (PMI), a barometer of the sector's activities, stood at 50.6 points in March, 0.1 point lower than February's 50.7 points. Readings above 50 indicate growth; those below point to contraction.

Falling in tandem was the PMI for electronics, which accounts for a hefty chunk of Singapore's manufacturing sector. It also dipped by 0.1 point, to 50.9, according to data from the Singapore Institute of Purchasing and Materials Management on April 2.

Notably, the slowdown was felt across Asia, with the Asean PMI index also retreating in tandem with India's, as well as those of the North Asian economies of Taiwan and South Korea.

Meanwhile, the declines in the PMIs of Taiwan, Thailand and the Philippines brought them into contraction territory, joining Malaysia and South Korea.

Bucking the trend were China and Vietnam, which registered improvements.