Taiwan: Manufacturing PMI improves in June
July 1, 2014
The manufacturing HSBC Purchasing Managers Index (PMI) rose from 52.4 in May to 54.0 in June. The reading represented the 11th 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, June’s notable improvement reflected a further expansion in output, which was mainly supported by a strong increase in total new businesses from both domestic and global markets. Exports orders benefited from this boost in external demand and higher production requirements led to increased purchasing activity by Taiwanese manufacturers. Moreover, respondents to the June survey indicated that input prices increased compared to the previous month.
Author: Ricardo Aceves, Senior Economist