Taiwan: Growth in manufacturing production accelerates March
April 5, 2017
Business activity in Taiwan’s manufacturing sector gained momentum in March on the back of stronger production. The Manufacturing Purchasing Managers’ Index (PMI), reported by Nikkei and IHS Markit, rose from 54.5 in February to 56.2 in March—the highest so far this year. The PMI continues to rest comfortably above the 50-point threshold, indicating that the sector’s growth is rock-solid.
According to IHS Markit, the Taiwanese manufacturing sector ended the first quarter on a strong footing, with manufacturing production and new orders both registering growth rates close to the peaks seen in December. More detailed data showed that an increase in export orders drove the overall improvement in new takes and stronger client demand continued to lift confidence regarding the business outlook. On the price front, Taiwanese goods producers highlighted another sharp increase in input prices, which led to a further increase in prices charged to clients.
Author: Ricardo Aceves, Senior Economist