Taiwan: Manufacturing PMI in September inches up from multi-year low
October 1, 2015
The manufacturing Purchasing Managers’ Index (PMI), elaborated by Nikkei and Markit, rose from 46.1 in August, which had marked the lowest level since September 2012, to 46.9 in September. As a result, the PMI remains below the 50-threshold, which separates contraction from expansion in the manufacturing sector, for the fifth consecutive month.
According to Nikkei, September’s result came on the back of a less-pronounced contraction in both output and new businesses; however, the improvement was moderate overall. Companies commented that deteriorating global economic conditions have hampered both domestic and foreign demand, causing new business to fall for the sixth consecutive month. Employment was a bright spot in this month’s survey and rose in September, albeit mildly. Markit analysts added that, “as we head into the final quarter of 2015, it appears unlikely that the sector will regain momentum, as the global economic slowdown and subsequent softer demand in export markets such as China and the US remain key obstacles to growth.”