PMI reads 62.7, the ninth month in expansion zoneOVERHEATING RISK: CIER’s president said that prices for oil, raw materials and mass commodities are spiking, and producers might soon pass costs on to consumersBy Crystal Hsu / Staff reporterThe official manufacturing purchasing managers’ index (PMI) last month was 62.7, soundly in the expansion zone for the ninth straight month, with all sectors reporting an uptick in business amid deepening concern over inflation risks, the Chunghua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. “Prices for oil, raw materials and mass commodities are spiking, and producers might soon pass costs on to consumers,” Chang said. The PMI subindex on new business orders was 60.5, while the industrial production gauge was 59.2, CIER’s monthly survey found. Companies in all sectors have rosy expectations, sending the six-month outlook reading to an all-time high of 78.8, Chang said. An upturn in the next six months is likely in the non-manufacturing sectors, including hospitality providers, it said.

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