November PMI rises to 59.5
By ECCT staff writers
Taiwan’s official Manufacturing Purchasing Managers' Index (PMI) rose 1.2 points in November from the previous month to 59.5, according to a news release by the Chung-Hua Institution for Economic Research (CIER). It was the 17th consecutive month above the neutral 50 mark, indicating economic expansion ahead.
Among the five major factors in the PMI, three sub-indexes on new orders, production, and employment moved higher by 3.3, 4.6, and 1.0 points, respectively, from the previous month to 60.1, 60.5, and 56.2. However, the sub-indexes on supplier deliveries and inventories moved lower by 1.3 and 1.5 points, respectively, to 64.4 and 56.5 in November, although remaining firmly in expansionary territory.
The report also indicated that the non-manufacturing index (NMI), which covers service sector activity, also rose 3.8 points from a month earlier to 62.3 in November. The NMI, which been in negative territory during Taiwan’s level 3 partial lockdown restrictions earlier in the year, has now been in expansion mode for five months in a row, according to CIER.