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Taiwan Manufacturing PMI Ticks Higher In May - S&P Global
(RTTNews) - The manufacturing sector in Taiwan continued to contract in May, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 48.6.
That's up from 47.8 in April, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Weaker demand conditions both at home and abroad were central to the latest deterioration in overall business conditions. Total new business fell solidly in May, despite the rate of contraction easing slightly from April, while new export orders declined at the steepest pace in nearly a year and a half.
Companies often mentioned that US tariffs and greater hesitancy among customers to commit to orders had dampened new business. Reduced intakes of new work led companies to cut production for the second successive month, albeit to a weaker extent than that seen in April.
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