Taiwan's purchasing managers index (PMI) fell 2.1 percentage points to 53.3% in September. That’s the word from a local think tank, the Chung-Hua Institution for Economic Research (CIER) on Wednesday.
CIER said that despite the fall in the September PMI, Taiwan's manufacturing sector remained in expansion. A PMI reading of above 50 indicates expansion in manufacturing activity, while a figure below 50 signals contraction.
The local PMI covers six major industries, and all six showed an expansion in their activities. All five of the sub-indices of the PMI showed expansion. But the think tank said that many manufacturers have turned cautious about the business outlook over the next six months. This is because business activities during the current peak season have been less active than expected.