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Financial News: Taiwan Manufacturing Sector Picks Up Steam In October

Taiwan Manufacturing Sector Picks Up Steam In October - Markit

10/31/2021 - 21:10:00 (RTTNews)

(RTTNews) - The manufacturing sector in Taiwan continued to expand in October, and at a faster pace, the latest survey from Markit Economics showed on Monday with a Manufacturing PMI score of 55.2.

That's up from 54.7 in September and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Helping to lift the headline figure was a stronger upturn in total new work during October. The rate of growth picked up notably from September's modest pace and was sharp overall, with companies citing greater domestic and foreign demand. New export work rose solidly overall, albeit to a weaker extent than in September.

Despite the steep rise in total sales, production growth remained mild overall, with a number of companies commenting that supply shortages and delays had restricted growth. As a result, outstanding business rose rapidly, with the rate of accumulation picking up from that seen at the end of the third quarter.

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