Taiwan: Manufacturing PMI rises to highest level since January 2011
September 1, 2014
The manufacturing Purchasing Managers’ Index (PMI), elaborated by HSBC and Markit, rose from 55.8 in July to 56.1 in August. The reading marked the highest level since January 2011 and the 13th consecutive month in which the PMI index has been above the 50-threshold that separates expansion from contraction in the manufacturing sector.
According to HSBC, August’s result, “signaled a sharp strengthening in overall operating conditions faced by Taiwanese manufactures” and was supported by a notable expansion in new orders and an increase in production levels. In addition, manufacturing firms raised their workforce numbers for the 15th consecutive month as a result of firms’ plans to increase production capacity. Higher productions requirements led to an increase in the amount of input purchased.
Author: Ricardo Aceves, Senior Economist