Taiwan’s HSBC manufacturing PMI fell to 51.2 in April, down from 54.1 in March.Key points:
- PMI indicates weakest improvement in operating conditions in current three-month sequence
- Growth of both output and new orders eases
- Output prices fall despite solid cost inflation
Taiwan’s manufacturing sector continued to grow in April, albeit at a weaker pace. The latest expansion reflected moderate increases in both production and new work intakes. Slower growth had the knock-on impact of weaker rates of purchasing activity, and contributed to an improvement in vendor performance. Manufacturers also reduced output prices in line with softening demand conditions, despite registering continued cost inflation.
The headline HSBC Taiwan Purchasing Managers’ Index™ (PMI™) – a composite indicator designed to provide a single-figure snap-shot of the health of the manufacturing sector – posted 51.2 in April, down from 54.1 in March, indicating a moderate and slower improvement in operating conditions within Taiwan’s manufacturing sector. The latest reading was the lowest since January, following a 10-month high in March.