February PMI at 63.2

By ECCT staff writers

Taiwan’s official Purchasing Managers' Index (PMI) came in at 63.2 in February, according to data released by the Chung-Hua Institution for Economic Research (CIER). It was the eighth consecutive month in positive territory (above 50) and the fourth consecutive month over 60, indicating robust expansion for the next six months.

Among the five components of the PMI, new orders, production, employment expansion and supplier delivery times have increased, and inventory has returned to expansion.

Of the six major industry sectors, five are above 50. The readings were 58.8 in the electronics/optoelectronics sector, 57.7 in electricity/electrical equipment, 57 in chemical/biotech, 56.1 in basic materials, and 55.2 in transportation tools. However, the food/textile index saw a contraction, with a reading of 47.2 in February. The reading for the six-month business outlook added 3.2 points to a record level of 73.3, on the back of robust order books across all sectors.

The non-manufacturing managers' index (NMI) also remained in expansionary territory at 52.1 in February with five of the eight major indices expanding. The reading for construction and real estate was 55.7%, education and professional science (55.1%), accommodation and catering (54.2%), retail (54.2%) and wholesale industry (53.8%). In negative territory were transportation and warehousing industry (43.8%), finance and insurance (49.7%).