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Taiwan PMI December 2023

Taiwan: Manufacturing PMI slips in December

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) decreased from 48.3 in November to 47.1 in December. As a result, the index moved further below the 50-threshold, pointing to a sharper deterioration in manufacturing sector business conditions.

In December, output and new orders both fell at the fastest rates since August, while input purchases and export orders also slipped. Both input and output price pressures eased amid the muted demand panorama, while business confidence was mild overall.

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

“Taiwan’s manufacturing sector continued to contract at the end of the year, driven by further cutbacks to client spending amid subdued global economic conditions. […] Despite this, December’s PMI reading rounded off the best quarter for a year-and-a-half, giving hope that the worst of the current downturn is now behind us. Manufacturers are cautiously optimistic that production levels will rise over the course of 2024, though this hinges on a recovery in global demand conditions.”

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