The #Taiwan Manufacturing #PMI dropped to 42.7 in August, indicative of a sharp deterioration in operating conditions that was the worst recorded since May 2020 (1/5)
ow.ly/3kBb50Kxr6v
ow.ly/3kBb50Kxr6v
Taking a closer look at the Taiwan Manufacturing PMI data for August shows a deepening downturn in #production. Excluding the initial pandemic lockdowns in 2020, the drop in output was the worst seen since the #GFC in 2009 (2/5)
Firms cut output further as global #demand conditions weakened notably, with new #export orders dropping at one of the fastest rates on record (3/5)
Weaker demand for inputs has placed less pressure on #supply chains and #costs, however, with manufacturers in Taiwan noting the first drop in average input costs since May 2020 (4/5)
At the same time, firms cut their factory gate #prices for the first time since June 2020, to suggest that official price gauges will moderate in the coming months (5/5)
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