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Financial News: Taiwan Manufacturing Growth Slows In May

Taiwan Manufacturing Growth Slows In May

06/01/2021 - 08:20:00 (RTTNews)

(RTTNews) - Taiwan's manufacturing sector expanded at a softer pace in May, figures by IHS Markit revealed Tuesday.

The manufacturing Purchasing Managers' Index rose to 62.0 in May from 62.4 in April. A score above 50 signals expansion.

New orders and output increased at the fastest rate for over a decade in May. Purchasing activity expanded to the quickest since March 2020.

Delivery times lengthened in May. Staffing levels increased for the seventh straight month and backlogs of work expanded with the rate of accumulation sharpest over eleven years.

On the price front, inflationary pressures increased in May. Average input price inflation eased slightly from April's 122-month record and firms increased the output prices at the fastest rate on record.

Inventories of input rose sharply in May and stocks of finished goods expanded modestly.

"Stronger demand across key export markets such as Europe, the US and mainland China was mentioned in particular, as the global economy continues to recover from the pandemic," Annabel Fiddes, economics associate director at IHS Markit, said.

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