EXPANSION: After contracting since April and coming in flat in September, the index increased to 51.1 last month, driven by suppliers of food and textiles, the institute said
Date: Nov 02, 2019
By: Crystal Hsu / Staff reporter
The official manufacturing purchasing managers’ index (PMI) last month expanded for the first time since April, as food and textiles fared well, thanks to the high season and demand leading up to next year’s Tokyo Olympics, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.
Last month’s PMI reading of 51.1 indicated a business pickup for the nation’s manufacturing sectors, although companies engaged in the supply of raw materials, transportation tools, as well as electricity and machinery equipment remained in the woods.
Figures larger than 50 indicate an expansion, while values below the threshold suggest a contraction.
Manufacturing PMI was flat last month at 50. [FULL STORY]