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Taiwan's Manufacturing Activity Expands at Softer Pace in June

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Operating conditions across Taiwan's manufacturing sector softened in June, with the headline S&P Global Taiwan Manufacturing Purchasing Managers' Index (PMI) coming in at 55.2, according to data released on Wednesday.

The latest reading, a gauge of factory activity, slipped from a 57-month high of 56.1 in May but remained well above the 50 mark that separates expansion from contraction.

The PMI also signaled a seventh straight month of improving business conditions.

Output growth accelerated to its fastest pace since July 2021, driven by stockpiling as manufacturers and customers built inventories amid Middle East-related supply disruptions and fears of higher supplier prices. New orders remained strong on solid domestic and overseas demand.

Employment declined for a fourth consecutive month as firms stayed cautious on hiring despite stronger optimism, supported by demand for AI-related technology and semiconductors.

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