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Financial News: Taiwan Manufacturing Sector Accelerates In May - S&P

Taiwan Manufacturing Sector Accelerates In May - S&P Global

06/02/2024 - 20:49:00 (RTTNews)

(RTTNews) - The manufacturing sector in Taiwan continued to expand in May, and at a faster pace, the latest survey from Judo Bank revealed on Monday with a manufacturing PMI score of 50.9.

That's up from 50.2 in April, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Building on April's first rise in output for 25 months, manufacturing production increased again during May. Moreover, the rate of growth was the best recorded since December 2021. Panelists closely linked the increase in output to a rise in new orders. Demand was reported to be firmer, especially from domestic sources.

Overall, the increase in new work was the strongest for over two years. That was despite a further drop in new export orders, which fell for the 27th month in succession (though only slightly in May). Panelists noted that underlying demand from key export markets like the US, China and within Southeast Asia remained soft.

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