Taiwan: Manufacturing PMI falls to 3-month low
April 1, 2015
The manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC and Markit, fell from 52.1 in February to 51.0 in March. The reading marked a 3-month low. As a result, the PMI index now rests closer to the 50-threshold that separates expansion from contraction in the manufacturing sector.
According to HSBC, the result came on the back of moderations in output and new orders growth. In addition, employment grew at a slower pace. Lower input costs were recorded for the sixth consecutive month, largely on the back of lower prices for oil and steel. HSBC added that, “the latest data suggest that Taiwan’s manufacturing sector may struggle to pick up stronger growth momentum, at least in the near-term, unless client demand improves.”