Taiwan PMI October 2021

Taiwan

Taiwan: Manufacturing PMI rises in October

November 1, 2021

The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 55.2 in October from September's 54.7. As such, the index remained entrenched above the 50-threshold, signaling a faster improvement in business conditions from the previous month.

October’s reading was driven by faster new orders growth. However, export and employment growth eased, while production growth was mild due to supplier delays, and backlogs of work rose rapidly. Moreover, input and output cost pressures intensified.

On the outlook, Annabel Fiddes, economics associate director at IHS Markit, commented:

“The ongoing and severe disruption to supply chains is likely to remain a key challenge for Taiwanese manufacturers in the months ahead. Until vendor performance shows signs of improving, it's likely that output across the sector will remain subdued for some time yet, and that there will be further marked pressure on costs.”

FocusEconomics Consensus Forecast panelists currently project fixed investment to expand 4.3% in 2022, which is up 0.3 percentage points from last month’s forecast. For 2023, participants see fixed investment increasing 3.3%.


Author:, Junior Economist

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Taiwan PMI Chart


Taiwan PMI October 2021

Note: Taiwan Purchasing Managers’ Index (PMI). Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit.


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