News
April PMI rises to 49.4
By ECCT staff writers, CIER
Taiwan’s manufacturing purchasing managers' index (PMI) in April rose 1.5 points month-on-month to 49.4. According to the monthly report from the Chung-Hua Institution for Economic Research, it was the 14th consecutive month that the index fell below the neutral level of 50, indicating economic contraction ahead.
Five sub-indices of the April PMI moved higher, including the new orders sub-index rising 3.2 points from a month earlier to 50.1 in April and the production sub-index rising 2.8, also to 50.1, according to CIER. The employment sub-index moved higher by 0.4 points from a month earlier to 49.3 in April, while the supplier deliveries index was up 0.9 to 50.3 and the inventories index rose 0.2 to 47.1. In addition, the raw material prices sub-index rose sharply by 5.8 from a month earlier to 64.1, the highest level since May 2022, when it hit 69.3, according to the data. Meanwhile, the business outlook sub-index fell 1.2 from a month earlier to 55.2 but remained in expansion mode for the third straight month.
By industry sector, the food and textile industry and the electrical equipment and machinery industry sub-indexes moved higher from a month earlier, remaining in expansionary mode, CIER said. However, the chemical and biotech industry, the electronics and optoelectronics industry, and basic materials industry sub-indexes moved lower from a month earlier. The transportation tool industry sub-index remained flat in April and continued contracting, according to CIER.
Looking at the service sector, the non-manufacturing index (NMI) moved 0.6 points higher to 54.1 in April, the sixth consecutive month in positive territory.
