TAIPEI (TVBS News) — The Taiwan Institute of Economic Research released its Manufacturing Purchasing Managers' Index (PMI) report for March on Wednesday (May 3), revealing a decrease in the overall manufacturing PMI signal value from 10.97 in February (revised) to 10.41 in March.
The signal light changed from sluggish yellow-blue to blue, representing a recession, making it the second blue light this year.
According to the report, the domestic manufacturing industry was impacted by weak end demand, continued inventory adjustments by manufacturers, and the high base effect from last year.
The YoY decline in imports, manufacturing production index, and export order index expanded, which has affected demand and pricing indicators.
Moreover, the global economy has slowed, impacting investors' willingness to invest, leading to a YoY decline in the production index, exports, and orders exceeding 20%.
The report indicates that the manufacturing sector is facing a challenging environment, and the government must implement policies to boost the economy. The government has been urged to create an environment conducive to investment and improve Taiwan's competitiveness in the global market.
The Taiwan Institute of Economic Research's report is considered a reliable indicator of Taiwan's economic health, and policymakers and analysts will closely monitor the situation.
