TAIPEI (Taiwan News) — Taiwan's manufacturing continues to flourish and the Purchasing Managers' Index (PMI) soared to a new high in April, the Chung-Hua Institution for Economic Research (CIER) said Monday.
Data released by CIER showed the nation's PMI was up 6.0 points from a month earlier to register at 68.7 in April, the highest score ever recorded by the think tank. This was also the sixth consecutive month the 60 mark had been surpassed.
Meanwhile, the non-manufacturing index (NMI) in the service sector increased 4.9 points from March to 60.1 in April, the strongest since the survey began in August 2014. The report found that almost all non-manufacturing businesses have benefited from economic growth, except restaurants and hotels.
CIER President Chang Chuang-chang (張傳章) said accelerating economic activities in Taiwan have been fueled by growth in new orders and industrial production, both of which were pushed up by increasing global demand. Although there are reasons to be optimistic about the country's economic performance in the coming months, companies should stay alert about uncertainties linked to the ongoing pandemic, he warned.