Taiwan: Manufacturing PMI improves further in July
August 1, 2014
The manufacturing Purchasing Managers Index (PMI), elaborated by HSBC and Markit, jumped from 54.0 points in June to 55.8 in July. The reading marked the highest level since April 2011 and the 12th consecutive month in which the PMI index has been above the 50-threshold that separates expansion from contraction in the manufacturing sector.
According to HSBC, the increase observed in July, “signaled a robust improvement in the health of Taiwan’s manufacturing sector,” which was supported by a strong increase in output, total new orders and new export orders. In addition, manufacturing firms expanded their workforce numbers as a result of businesses’ plans to increase production capacity. Moreover, input prices rose over the previous month.
Author: Ricardo Aceves, Senior Economist