Photo: Markit, HSBC
Taiwan’s May PMI fell to 50.5, down from 51.2 a month ago.Key points:
- PMI at 50.5 in May, closer to stagnation but still signalling expansion
- Growth of output and new orders maintained, but slowdown from March peaks continued
- Output prices and input costs both fell in May
Manufacturing production and new orders both increased for the fourth straight month in May, but with rates of expansion easing to the weakest during this period. Export orders rose only slightly as well. Demand from North America and South East Asia continued to hold up, but there were reports that weaker conditions in Europe suppressed inflows of new export business.
Staffing levels dipped slightly during May, as manufacturers held off from raising capacity in response to the slowdown in growth. The reduction to employment was only marginal, but nonetheless ended a five-month period of modest gains in payroll numbers.