News
September PMI rises to 48.2
By ECCT staff writers, CIER
Taiwan’s official manufacturing Purchasing Managers Index (PMI) in September 2023 rose by 2.7 points to 48.2 from the previous month, according to a report from the Chung-hua Institution of Economic Research (CIER). While it was the seventh consecutive month below the neutral 50 level, signalling contraction, it was the first improvement in three months.
Among the five component indicators, the sub-index for new business orders rose 5.1 points from one month earlier to 51.7, while the gauge for industrial production picked up 6.2 points to 52.9, returning to positive territory. However, manpower (employment) and supplier delivery time both fell below 50, while the reading for inventory continued to shrink (below 50).
Broken down by industry sector, the PMI readings for three major industries remained in negative territory with the basic raw materials industry (42.9), the electric power and machinery equipment industry (42.9), and the electronics and optical industry (48.2). Bucking the trend, the chemical and biotech medical industry (53.6) and the transportation industry (53.2) both reported PMI expansions while the food and textile industry PMIs were flat (50).
Meanwhile, the non-manufacturing index (NMI) for September came in at 53.5, expanding for the 11th consecutive month, but weakening 0.8 points from a month earlier, according to CIER.
