Taiwan News
Date: 2016-07-04
By: Central News Agency

Taipei, July 4 (CNA) Amid concerns that Taiwan’s gross domestic product growth for 2016 might not surpass the 1 percent mark, the indicators of the overall economic condition for the manufacturing and non-manufacturing sectors in June both pointed to expansion, the Chung-Hua Institution for Economic Research (CIER) said Monday.

Taiwan’s purchasing managers index (PMI) for manufacturing activity for June fell from a month earlier, but the figure still indicated expansion for the fourth consecutive month, while its non-manufacturing index (NMI) for the month also turned to expansion from contraction, according to the CIER, one of Taiwan’s leading economic think tanks.

The June PMI fell 1.6 points from a month earlier to 53.3, the CIER said. However, the data shows that the local manufacturing climate remained in expansion mode. A PMI reading of above 50 indicates expansion in manufacturing activity, while a figure below 50 signals contraction.The factors in the PMI in June that pointed to expansion include the June sub-indexes for new orders and production, which fell 2.7 and 2.5 points, respectively, from a month earlier to 55.3.     [FULL  STORY]