Taiwan PMI November 2021

Taiwan

Taiwan: Manufacturing PMI dips in November

December 1, 2021

The IHS Markit Manufacturing Purchasing Managers' Index (PMI) fell from 55.2 in October to 54.9 in November. The index remained entrenched above the 50-threshold, but signaled a slower improvement in business conditions from the previous month.

November’s reading was driven by a fall in output and slower new orders growth, amid supply constraints and input shortages. In contrast, employment rose at a faster pace. On the price front, both input and output price inflation was the fastest in five months. Meanwhile, business confidence improved slightly in November.

On the outlook, Annabel Fiddes, economics associate director at IHS Markit, commented:

“Difficulties obtaining key inputs and a further substantial deterioration in suppliers' delivery times prompted firms to stock build and increase their staffing levels again. However, it seems unlikely that production schedules can recover quickly unless there is an improvement in supply chains and faster delivery of key components.”

FocusEconomics Consensus Forecast panelists currently project fixed investment to expand 4.3% in 2022, which is unchanged from last month’s forecast. For 2023, participants see fixed investment increasing 3.5%.


Author:, Economist

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Taiwan PMI Chart


Taiwan PMIMANUFACT November 2021

Note: Taiwan Purchasing Managers’ Index (PMI). Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit.


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