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Taiwan's PMI, NMI up in January

Taiwan's PMI, NMI up in January

Taipei, Feb. 2 (CNA) Taiwan's purchasing managers index (PMI) and non-manufacturing index (NMI) moved up in January, an indication that the country's economy is steadily recovering, the Chung-Hua Institution for Economic Research (CIER) said Monday. The local PMI index for January rose 3.4 points from a month earlier to 53.5 percent, marking the second consecutive month of expansion, according to the CIER. The NMI, meanwhile, gained 0.3 points to 53.9 percent, the sixth consecutive month of expansion. Although the CIER has compiled the NMI for some time, this was the first time the think tank has published the index. Index scores above 50 indicate expansion, while those below 50 indicate contraction. Among the six manufacturing subsectors covered by the PMI, five were expanding: food and textiles (61.7 percent); transportation equipment (57.3 percent); basic materials (53.6 percent); electronics and optoelectronics (52.9 percent); and electrical and machinery equipment (51.8 percent). The only subsector that showed a contraction was the chemical, biological and medical industry (48.6 percent). Of the eight non-manufacturing subsectors covered by the NMI, four were expanding: transportation and warehousing (63.6 percent); finance and insurance (63.4 percent); wholesale (54.7 percent); and education and professional sciences (54.2 percent). While the information and communication industry remained unchanged, three others showed contraction: accommodation and restaurants (45.2 percent); retail (48.5 percent); and construction and real estate (49.2 percent). (By Chen Cheng-wei and Y.F. Low)


Updated : 2021-09-24 16:18 GMT+08:00