Taiwan: Manufacturing PMI falls to 16-month low
January 5, 2015
The manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC and Markit, fell from 51.4 in November to 50.0 in December, continuing its downward slide. The reading marked a 16-month low. In addition, the PMI index now remains on the 50-threshold that separates expansion from contraction in the manufacturing sector.
According to HSBC, the result signals that, “Taiwan’s manufacturing sector is slowing rapidly to a standstill at the end of 2014 after performing strongly for much of the year.” Growth of both new orders and output fell for the first time in over a year and input costs and output charges both decreased. However, manufacturing firms raised their workforce numbers for the 19th consecutive month.