Manufacturing PMI slows on outbreakSTILL SOLID: Growth momentum softened across the manufacturing industry as new orders and output increased at the slowest rates since August last year, IHS Markit saidBy Crystal Hsu / Staff reporterThe nation’s manufacturing purchasing managers’ index (PMI) last month slowed to 57.6 from 62 in May, as companies continued to see business improve, but at the slowest pace in seven months due to the COVID-19 pandemic, IHS Markit said yesterday. The growth momentum could cool further until operating conditions normalize, the international research body said in a report. Photo: Wu Chun-feng, Taipei TimesThe PMI report aims to capture the health of manufacturing sectors, with values larger than 50 suggesting expansion and points below the threshold indicating contraction. At the same time, growth in new work also slowed to a 10-month low, with companies saying the outbreak weakened domestic demand. Taiwanese manufacturers are generally upbeat about business one year ahead, but the degree of confidence slid to an eight-month low, IHS Markit said.

Source: Taipei Times July 01, 2021 15:56 UTC