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Taiwan's manufacturing sector picks up in November, service industry cools

Xinhua, December 1, 2016 Adjust font size:

Taiwan's purchasing managers' index (PMI) for the manufacturing sector marked the highest reading since April 2015, while the service sector contracted, data showed on Thursday.

The PMI rose by 2.8 points to 57.3 in November from October, according to Chung-Hua Institution for Economic Research (CIER), a Taipei-based think tank.

It is the ninth consecutive month that the manufacturing sector has expanded. A reading above 50 indicates expansion while figures under 50 reflect contraction.

The sub-index for new orders increased 6.3 points to 61.3, and that for production rose 4.7 points to 60.4.

The sub-index for employment posted its seventh consecutive monthly increase to reach 55.6.

In November, the non-manufacturing index, an indicator for the service sector, contracted for the second consecutive month to 49.8.

The sub-indexes for new orders, production and employment all contracted.

Analysts said the recent launch of new mobile gadgets bolstered exports of Taiwan-made electronic components, thus boosting the island's manufacturing sector.

However, since the service sector accounts for more than 60 percent of the island's economy, the overall picture appears tepid. Endi