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Taiwan PMI January 2024

Taiwan: Manufacturing PMI rises in January

The S&P Global Taiwan Manufacturing Purchasing Managers Index (PMI) increased from 47.1 in December to 48.8 in January. As a result, the index remained below the 50.0 no-change threshold, but signaled a softer deterioration in manufacturing sector operating conditions compared to the previous month.

The latest PMI survey data saw business confidence rise to a 23-month high, the first upturn in employment since December 2022, and softer reductions in output and new orders. Less positively, supply chain delays have worsened due to disruptions in the Red Sea, impacting overall manufacturing sector health.

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

“It will be important to monitor how demand trends unfold over this first quarter in order for a strong and sustained recovery. At the same time, manufacturers will be keeping an eye on developments across shipping routes in the Red Sea to see how this may impact supply chains going forward. The latest survey showed that shipping disruptions have already had an impact on delivery times, but this also has the potential to fuel price pressures in the months ahead.”

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