Taiwan Manufacturing PMI2011-2021 Data | 2022-2023 Forecast | Calendar | Historical

The IHS Markit Taiwan Manufacturing PMI increased to 60.8 in March 2021, the highest since March 2010, signaling a further expansion of output, with the rate of growth was the joint-quickest since the start of 2011. At the same time, new order rose to the fastest pace since January 2011, while the rate of job creation was the strongest for nearly three years. In addition, buying levels continued to expand sharply. However, growing demand for inputs led to further pressure on supply chains. As a result, supply chain delays were the worst seen on record amid stock shortages and shipping-related delays. This in turn drove a further sharp increase in input costs, with the rate of inflation the second-sharpest for a decade. As a result, the output prices rose at the fastest pace on record. Finally, business sentiment strengthened to a near seven-year high.

The IHS Markit Taiwan Manufacturing PMI edged up to 60.4 in February 2021, the highest since April 2010, signaling a further steep improvement in operating conditions. A substantial rise in new orders supported expansions of both output and employment. Also, export sales grew at the second-quickest rate since January 2011, with firms mentioning improved demand across mainland China, Europe, and the US in particular. In addition, buying levels rose the most in almost eleven years as firms looked to meet rising order volumes. Meantime, supply chain delays were the worst seen on record amid stock shortages and shipping-related delays. This in turn drove a further sharp increase in input costs, which was partly passed on to customers in the form of higher factory gate charges. Finally, business sentiment slipped to a three-month low, but remained strong overall.

The IHS Markit Taiwan Manufacturing PMI went up to 60.2 in January 2021, the highest since April 2010, from 59.4 in December, amid a further recovery from the COVID-19 shocks. Both output and new orders expand at substantial rates, with new export work also growing sharply. In addition, employment continued on an upward trend, with the rate of job creation the strongest since April 2018; while buying levels advanced at the steepest rate in a decade. However, a lack of stock at vendors, reduced freight capacity, and shipping delays related to the pandemic led to a record increase in the time taken for inputs to be delivered. Also, capacity pressures persisted as highlighted by a further increase in backlogs of work. On the inventories front, firms stepped up their efforts to accumulate their stocks of both pre-and post-production goods due to rising customer demand. Finally, sentiment hit its highest since April 2014.

The IHS Markit Taiwan Manufacturing PMI increased to 59.4 in December 2020 from 56.9 in November. This was the sixth straight month of rise in factory activity and the strongest reading since January 2011. Output expanded to the fastest for nearly a decade, driven by a substantial in new work. Meanwhile, new business also advanced at the fastest rate since January 2011, due to a rebound in sales as the impact the pandemic continued to unwind. Meanwhile, employment continued to rise, albeit modestly. As a result, backlogs of work increased at the sharpest rate since February 2018. On the price front, input costs accelerated to the fastest since December 2016, while prices charged rose to the most since March 2011. Lastly, business sentiment improved to a 33-month high, due to an improving in sales trend, and expectations that global demand conditions will continue to improve over the months ahead.