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Taiwan PMI November 2022

Taiwan: Manufacturing PMI remains depressed in November

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) ticked up from 41.5 in October to 41.6 in November. As a result, the index was below the 50 threshold and continued to point to a sharp deterioration in business conditions.

In November, both new orders and output continued to fall at substantial rates, while inventories were cut at the quickest pace since 2009, employment fell and business sentiment was downbeat. More positively, input costs declined amid lower raw material prices.

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

“The current downturn in output underscores the weakest performance of the sector since the global financial crisis in 2009. “The incredibly downbeat assessment of the 12-month outlook also suggests that firms are not anticipating things to improve anytime soon. An increasingly challenging global economic environment – where many regions face strong inflationary pressure and tightening financial conditions – is expected to constrain performance in the months ahead.”

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