Taiwan PMI May 2022

Taiwan

Taiwan: Manufacturing PMI falls to near two-year low in May

June 1, 2022

The S&P Global Manufacturing Purchasing Managers' Index (PMI) fell to 50.0 in May from 51.7 in April. May’s result marked the worst performance since June 2020. As a result, the index pointed to stagnating business conditions from the previous month.

The moderating value of the index stemmed from a steeper fall in output and the first contraction in new orders in nearly two years, as Covid-19 restrictions in China led to material shortages and general demand conditions softened. That said, employment increased somewhat in the month. Meanwhile, input and output inflation eased but remained elevated, while business sentiment turned pessimistic for the first time since May 2020.

Our panelists project fixed investment to expand 5.3% in 2022, which is up 0.3 percentage points from last month’s forecast, and 3.4% in 2023.


Author:, Economist

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Taiwan PMIMANUFACT May 2022

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: S&P Global.


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