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Taiwan manufacturing activity contracts for 3rd month
2019-08-06 Author:Xinhua Source: Views:978
Taiwan's manufacturing activity contracted for the third consecutive month in July, according to the latest purchasing managers' index (PMI) reading released by the Chung-Hua Institution for Economic Research (CIER).
The manufacturing PMI for July stood at 48, down 0.1 points from the previous month. A PMI reading above 50 suggests expansion while below 50 indicates contraction.
Among the five sub-indexes, those for new orders and inventory levels continued to show contraction, while those for production and employment pointed to expansion, according to CIER.
The non-manufacturing index rose by 2.9 points from June to 54.9 in July. Business activity, new orders and employment continued to expand, while the sub-reading for suppliers' delivery time increased, the CIER said.
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