Taiwan: Manufacturing PMI picks up in September
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) increased from 44.3 in August to 46.4 in September. As a result, the index remained below the 50-threshold, but pointed to a softer deterioration in manufacturing sector business conditions.
In September, output and new work declined at the softest rates since April. Purchasing activity and export orders also declined at milder rates, while employment fell moderately and businesses were downbeat on the 12-month outlook. Both input and output price pressures picked up in September.
Annabel Fiddes, economics associate director at S&P Global Market Intelligence, said:
“The latest survey results show some tentative signs of Taiwan’s manufacturing downturn easing in September […]. However, we will need to see if this trend continues, and whether key indices move closer to the neutral 50.0 level before determining whether conditions are close to stabilising. There remain a number of headwinds to the sector’s recovery, most notably the weaker global demand environment, which has weighed heavily on sales and led firms to continually cut back production.”