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Financial News: Taiwan Manufacturing PMI Slumps In April - S&P

Taiwan Manufacturing PMI Slumps In April - S&P Global

05/01/2023 - 21:05:00 (RTTNews)

(RTTNews) - The manufacturing sector in Taiwan continued to contract in April, and at a faster pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 47.1.

That's down from 48.6 in March, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Pushing the headline index further below the neutral 50.0 level was a quicker drop in total new work in April. The solid decrease in sales was often linked to weak demand, both at home and overseas, and relatively high inventory levels at some clients.

New export business likewise fell at the quickest rate since January and sharply overall. Muted demand conditions led firms to cut production volumes again at the start of the second quarter. The pace of reduction was solid overall and the quickest for three months.

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