PMI sees biggest fall in 43 months on weak demand

Taipei Times
Date:  Jul 02, 2015
By: Crystal Hsu  /  Staff reporter

The Nikkei Taiwan Manufacturing Purchasing Managers’ Index (PMI) fell to 46.3 last month, down from 49.3 in May, the most dramatic decline in 43 months, a survey by the Japanese media organization showed yesterday.

“The downturn in Taiwan’s manufacturing sector intensified last month as output and new orders contracted at faster paces,” said Annabel Fiddes, an economist at Markit, the UK-based financial data and marketing company that conducted the survey.

Nikkei Inc has replaced HSBC Holdings PLC in producing PMI data for the Asia region, based on monthly economic surveys compiled by Markit.

The PMI is a composite indicator of manufacturing performance derived from constituent gauges for new orders, output, employment, suppliers’ delivery times and stocks of purchases.     [FULL  STORY]

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