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Taiwan PMI February 2023

Taiwan: Manufacturing PMI picks up in February

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) increased from 44.3 in January to 49.0 in February. As a result, the index was below the 50-threshold but pointed to a softer deterioration in business conditions.

In February, there were milder falls in output, new orders and purchasing activity, while business sentiment improved. Supply chain pressures eased, with firms reporting the slowest increase in delivery times for 43 months. While input costs rose, output prices fell as firms tried to secure new business.

Annabel Fiddes, economics associate director at S&P Global Market Intelligence, said:

“The upwards movement in the indices reflected relative improvements in demand at some firms, partly due to the easing of COVID-19 restrictions in mainland China, and adds to hopes that the worst of the current downturn is now behind us. That said, there will need to be a meaningful pick up in global demand conditions to support a recovery. Expectations regarding the year ahead were not as downbeat as seen in January, but remain negative overall, as the weak global economic climate and cost pressures at clients continued to weigh on output projections.”

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