RECOVERY? The non-manufacturing index rose to 54.4 last month, ending four months of decline, with service firms optimistic about prospects six months ahead

Taipei Times
Date: Jul 02, 2020
By: Crystal Hsu / Staff reporter

The downturn in Taiwan’s manufacturing industry eased last month while service-oriented firms saw a solid boost, fueling hope that the negative impact from the COVID-19 pandemic might have touched bottom, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.

The official purchasing managers’ index (PMI) came in at 47.2 last month, up 2.4 points from 44.8 one month earlier, indicating a milder contraction.

PMI scores of lower than 50 signify a decline, while those above the threshold indicate expansion. The latest data signified a third straight month of retreat.

“The pace of decline flattened in June, a positive development for manufacturers,” CIER president Chang Chuang-chang (張傳章) told a media briefing.    [FULL  STORY]