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Published Date: 2019-12-02
A top government
think tank -- the Chung-Hua Institution Economic Research (CIER) – says its
November figures showed a second month of growth for Taiwan’s manufacturing
sector.
CIER says its PMI
index – the main index used to chart economic trends – showed its fastest
growth in over a year. A reading of above of 50 signifies growth where a figure
below 50 indicates a contraction.
The think tank’s
PMI figures came in at 54.9 in November. That’s an increase of 3.8% over the
previous month and the fastest growth since September, 2018.
CIER Director Chen
Shi-kuan said three out of the five major indicators in the PMI increased in
November. Those include: new orders, factory output, and employment. Chen said
that growth was largely driven by increasing demand during the year-end
shopping season.
A CIER analyst
also said that the deployment of 5G internet technology has also helped drive
up the manufacturing sector numbers and offset the effects of instability in
demand from the United States.