The manufacturing sector in Taiwan continued to contract in July, and at a faster rate, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 44.1.
That's down from 44.8 in June, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
A key factor pushing the headline index lower in July was an accelerated fall in manufacturing production. Output has now been scaled back in each of the past 16 months, with the latest reduction the quickest seen since January.
Firms frequently mentioned lowering output in response to weak demand conditions and fewer new orders. Total new business likewise fell at the fastest rate since January and rapidly overall. Panel members noted lower sales across both domestic and external client bases.
