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Taiwan's PMI dips to 15-month low of 51.4 in November
[TAIPEI]Data from the HSBC Taiwan Purchasing Managers' Index for November.
Readings above 50.0 signal an improvement in business conditions while readings below indicate deterioration.
- November PMI was the slowest rate of improvement in the current 15-month sequence.
- Taiwanese manufacturers signalled further loss of growth momentum in November, with output, new orders and new export orders all expanding at weaker rates over the month.
- The latest data signalled an increased amount of new export orders placed with Taiwanese goods producers in November, thereby extending the current trend to 15 months. As was the case for total new orders, however, the rate of growth was only modest, having slowed for the fourth month running.
Commenting on the Taiwan PMI survey, John Zhu, economist at HSBC, said: "Taiwan's manufacturing sector has generally performed impressively this year, but the current slowdown in growth momentum, which had started in Q3, has deepened in the final quarter of 2014. With new orders continuing to weaken, the slight increase in hiring and fall in input costs may not provide much respite in the short run."