The manufacturing sector in Taiwan slowed down again in June, but still showed signs of expansion.
According to the Chung-Hua Institution for Economic Research on Wednesday, Taiwan’s purchasing managers index (PMI) for June fell 0.4 points from the previous month to 58.2. This is the third monthly decline in a row since the index hit a high of 60.6 in March.
A PMI reading of above 50 indicates expansion in manufacturing activity, while a figure below 50 signals contraction.
An assistant research fellow with the think tank, Chen Shin-hui, said that the June reading is at a relatively high level compared with last year. She said this shows that Taiwan’s economy is making a steady recovery.
Chen also said that in June, all sub-indices remained above 50. Those for new orders and employment lost ground, while those for production, supplier deliveries and inventories gained strength.