Taiwan Manufacturing PMI Inches Higher In August - S&P Global

(RTTNews) - The manufacturing sector in Taiwan continued to contract in August, albeit at a slower rate, the latest survey from S&P Global showed on Friday with a manufacturing PMI score of 44.3.

That's up from 44.1 in July, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The sustained drop in production was driven by a further decline in overall new business. The latest drop in total new work was the sharpest recorded since January, with firms commenting on weaker demand conditions across both domestic and international markets.

The latest reduction in new export sales was also the fastest seen since the start of the year. The subdued demand environment and subsequent drop in output led firms to lower their purchasing activity again in August.