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Taiwan PMI November 2023

Taiwan: Manufacturing PMI picks up in November

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) increased from 47.6 in October to 48.3 in November. As a result, the index remained below the 50-threshold, but pointed to a softer deterioration in manufacturing sector business conditions for the fourth straight month. This suggests that the worst of the manufacturing downturn is in the past—which chimes with recent industrial production readings.

In November, output, inventories and employment declined at softer rates, business sentiment turned positive, and both input and output price pressures moderated.

Looking ahead, the manufacturing sector should stage a recovery next year as the global electronics downturn bottoms out, Chinese demand stabilizes and AI-related IT demand rises.

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