March PMI at 62.7
By ECCT staff writers
Taiwan’s official manufacturing Purchasing Managers Index (PMI) reading came in at 62.7 in March, slightly lower than the previous month but remaining in expansionary territory for the ninth consecutive month and above 60 for the fifth consecutive month.
According to a news release by the ChungHua Institution for Economic Research (CIER), manufacturers’ outlook for the next six months rose by 5.5 percentage points to 78.8, to a new high that reflects optimism on the part of manufacturers who are optimistic about the future economy."
In March, the six major industry sectors reported PMI expansion as follows: transportation (75.0), electric power and mechanical equipment (71.6), electronics and optics (71.4), basic raw materials (66.9), food and textiles (65.5), chemical and biotechnology medical industry (59.8).
Meanwhile, the non-manufacturing index (NMI) for the service sector rose 3.1 to 55.2, marking the 10th consecutive month of expansion.