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Financial News: Taiwan Manufacturing PMI Improves In January - S&P

Taiwan Manufacturing PMI Improves In January - S&P

01/31/2024 - 20:10:00 (RTTNews)

(RTTNews) - The manufacturing sector in Taiwan continued to contract in January, albeit at a slower rate, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 48.8.

That's up from 47.1 in December, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

A key factor helping to lift the headline index was a softer reduction in total new work during January. Total new orders declined at the weakest pace since last March and only modestly. While firms often commented that the overall demand environment remained challenging, others noted a relative improvement in customer sales compared to December.

New export business likewise fell at a slower pace at the start of the year. As a result, Taiwanese manufacturers cut their production volumes at a softer pace at the start of 2024.

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