Taiwan Manufacturing Sector Contracts Further In September - S&P Global
(RTTNews) - The manufacturing sector in Taiwan continued to contract in September, and at a faster pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 46.8.
That's down from 47.4 in August and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
As has been the case since April, Taiwanese manufacturers signaled a reduction in output at the end of the third quarter. Notably, the rate of decline was the second sharpest in just over two years. According to panel members, weak customer demand led firms to cut production.
Overall new business also fell markedly, with the rate of contraction among the fastest over the past two years. Companies frequently mentioned that sales to the US had fallen amid ongoing uncertainty over future trade policy. There were also reports of lower amounts of new work across other key markets such as Europe, Japan and mainland China. As a result, new export orders fell at a sharp and accelerated pace.
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