Taiwan’s manufacturing activity has continued to expand. That’s despite a drop in the purchasing managers index (PMI) in April.
The April PMI slid 0.4 points to 60.2. That’s the word from the Chung-Hua Institution for Economic Research. But it marks the first time the index has stayed above 60 for two months in a row since July 2012. A PMI reading of above 50 indicates expansion in manufacturing activity.
Of the five sub-indicators, “new orders” and “production level” grew the most, reaching their highest levels since last March. But “inventories” is at its lowest level, showing that most orders are urgent. The institute said this makes it difficult to predict whether a recovery in the manufacturing sector will continue.