Optimism in Asian manufacturing despite varied growth rates

TAIPEI (TVBS News) — The Purchasing Managers' Index (PMI) for Asian manufacturing in March shows varying recovery rates across the region. Taiwan's manufacturing sector shows an upward trend, rising from 48.6 to 49.3.

Despite still being below the boom-bust line of 50, confidence among Taiwanese businesses has reached its highest level in nearly three years, signaling optimism for increased sales and productivity in the coming months. Japan also saw an improvement, with its PMI jumping from 47.2 to 48.2, suggesting the worst of its economic slump may be over.

However, the manufacturing sectors in South Korea and Vietnam have once again contracted. South Korea's PMI fell from 50.7 in February to 49.8, its lowest level since October 2023. Vietnam's index also dropped from 50.4 to 49.9.

Paul Smith, Director for Economic Indices at S&P Global Market Intelligence, said signs of price and supply stabilization are helping to support a more optimistic outlook. Despite the challenges, the overall trend suggests a gradual recovery in the Asian manufacturing sector.