Taiwan’s manufacturing sector is making a strong comeback after 3 consecutive months of contraction as according to Chung-Hua Institution for Economic Research (CIER), the manufacturing sector has officially entered expansion mode. Purchasing Managers Index (PMI) for July rose to 54.1 while in the service sector, the non-manufacturing index (NMI) rose to 57.3 in July. When both PMI and NMI are above 50, the economy is said to be growing.
The sub-index corresponding to business outlook rose to 49.3 in July. All six major industries in the PMI and sub-indexes improved significantly in July. These growing numbers translate to an increase in new orders, employment, and production across sectors.
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