News
PMI rises to 57.7 in September
By ECCT staff writers
Manufacturing activity in Taiwan expanded in September for the third consecutive month. According to a report by the Chung-Hua Institution for Economic Research (CIER), Taiwan’s official Purchasing Manager’s Index (PMI) rose by 1.7 points to 57.7, driven in part by the launch of new smartphones and automobiles.
According to CIER, it was the first time since May 2019, that six major industry sectors in the PMI survey all rose, with the transportation sector topping the expansion at 66.1, followed by the electric/optoelectronics sector at 62.4, and the food/textile sector 61.
It was the fourth straight month of expansion in the electric/optoelectronics sector, which CIER President Chang Chuang-chang attributed to strong demand for 5G and network communication equipment. Meanwhile, the electricity/machinery sector returned to expansion mode in September, ending 16 months of contraction, according to the report.
The non-manufacturing index (NMI) shrank 3.8 points to 55.6 in September, although six of the eight major areas expanded, according to the data. The construction/real estate sector saw the largest growth at 64.1, followed by the warehousing/transportation sector at 63.4. However, the hotel/restaurant and financial insurance sectors contracted in September to 38.6 and 48.5, respectively.
