The manufacturing sector in Taiwan continued to contract in September, and at a faster pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 42.2.
That’s down from 42.7, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
A key drag on the performance of the manufacturing sector was a further substantial drop in overall new orders during September. The rate at which new orders declined was the sharpest since the initial phase of the pandemic in May 2020, with firms commenting on weaker customer demand across both domestic and foreign client bases.
New export work likewise fell at the quickest rate in 28 months during September. Lower amounts of new business led firms to cut production levels again at the end of the third quarter. The rate of contraction was likewise the quickest since May 2020 and among the fastest in the series history.
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