May PMI contracts to 41.3
By ECCT staff writers, CIER
Taiwan’s official manufacturing Purchasing Managers’ Index (PMI) contracted for a third consecutive month by 1.5 percentage points to 41.3 in May, according to the monthly PMI report from the Chunghua Institution of Economic Research (CIER).
The subindex on new business orders fell 6.3 points to 34.3, the subindex on inventory dropped 0.6 points to 45.3, while the measure for customers’ inventory dropped 0.2 points to 44.7 and factory production fell 1.6 points to 36.9.
Broken down by industry, five major industry sectors showed PMI contractions with electric power and mechanical equipment industry at 40.3, electronics and optical industry 40.8, basic raw material industry 42.4, transportation industry 47.3 and chemical and biotechnology and medical industry at 48.5. Only the food and textile industry saw a PMI expansion at 51.7.