Taiwan’s manufacturing PMI dips in August

The S&P Global Taiwan Manufacturing Purchasing Managers’ Index (PMI) remained above 50.0 in August 2024, for the fifth consecutive month. This indicates an overall improvement in manufacturing conditions.

However, the index declined from 52.9 in July to 51.5 in August, suggesting a weakening of growth momentum. This marks the slowest expansion in three months, as per the latest data released by S&P Global on Monday.

The weaker improvement in operating conditions was primarily driven by a noticeable slowdown in output growth. Production increased only marginally, marking the weakest expansion in the current five-month run.

This slowdown reflected a softer growth profile for new orders, although firms reported that demand remained positive, contributing to a solid overall increase in sales, the report added.

New orders increased from domestic and international markets, with demand rising in key Asian, European, and North American regions. Overall, new export sales reached a two-and-a-half-year high.

Attribution: S&P Global Taiwan Manufacturing PMI report

Subediting: M. S. Salama