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Taiwan manufacturing PMI surges on low base

Xinhua, April 1, 2016 Adjust font size:

Taiwan's purchasing managers' index (PMI) for the manufacturing sector surged 13.5 points from February to 54.9 in March, mainly due to low comparison base, new data showed on Friday.

As there were fewer working days in February because of the nine-day Chinese New Year holiday, the manufacturing PMI hit the lowest since the index was first compiled in mid-2012.

Manufacturers in Taiwan saw sharp increases in both new orders and production, according to a report by local think tank the Chung-Hua Institution for Economic Research.

The sub-index for new orders soared 24.3 points to 61.3 last month, and that for production surged 34.4 points to 63.8, the data showed. A PMI reading above 50 shows expansion in manufacturing activity, while a figure below 50 signals contraction.

The sub-index for employment was up 6.2 points to 51.3. The one for inventories saw contraction for a 10th month, with the index up 3.9 points to 48.4.

The non-manufacturing index increased 7.6 points from a month earlier to 50.5 in March, as the sub-indices for business activity and new orders respectively rose by 15.5 points and 14.7 points, according to the institution. Endi