The manufacturing sector in Taiwan continued to contract in October, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 47.6.
That’s up from 46.4, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
The rate of contraction was the weakest seen since March and only modest. While companies often cited that overall demand conditions remained sluggish overall, some firms noted a relative improvement in sales in key export markets.
Furthermore, new export work contracted at the slowest pace since February. Manufacturers in Taiwan continued to adjust their production levels to reflect softer demand conditions in October. Although solid, the latest drop in output was the weakest in six months.