Taiwan manufacturing PMI falls to 13-year low. | So Good News
The manufacturing sector in Taiwan continued to contract in October, at an even faster pace, with the latest survey from S&P Global showing a 13-year manufacturing PMI score of 41.5 on Tuesday.
That’s down from 42.2 in September and moves further below the 50 boom-or-bust line that separates contraction from expansion.
The latest decline was centered on weak consumer demand and new orders at Taiwanese firms fell for the sixth consecutive month. In addition, The latest contraction was a sharp decline, falling quickly to the worst since May 2020, seen in September. especially in Asia Exports also fell sharply, citing weak import conditions from the US and Europe.
Again, Manufacturers have reduced their production levels for seven consecutive months. In line with the overall sales trend. The rate of contraction was strong, the fastest since April 2020 and the worst in the survey’s 18-and-a-half-year history.
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