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Taiwan PMI January 2022

Taiwan: Manufacturing PMI dips in January

The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) dipped from 55.5 in December to 55.1 in January. The index thus remained entrenched above the 50-threshold, but signaled a softer improvement in business conditions from the previous month.

January’s reading was driven by slightly softer expansions in output and new orders. Employment growth was mild, while lead times continued to increase, suggesting ongoing supply difficulties. However, export orders rose sharply, thanks to stronger demand from China, Europe and the U.S. Both input and output inflation eased in January but remained elevated, and business confidence improved.

Annabel Fiddes, economics associate director at IHS Markit, commented:

“If supply chain disruption eases, this could support higher production and ease capacity pressures, allowing overall growth momentum to strengthen. This could also lead to an easing of inflationary pressures, as firms continue to face rapid rises in costs due to supply and demand imbalances.”

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