Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Taiwan's manufacturing activity fell to its slowest pace since 2009 and output expectations slumped to their lowest point since the height of the pandemic in 2020, according to the S&P Global Taiwan Manufacturing PMI released on Tuesday.
The PMI fell to 41.5 from 42.2 in September, with firms citing softening domestic and international demand, as new orders fell for a sixth consecutive month, S&P said. Firms however did report lower input and material costs and were looking to stimulate demand by lowering output prices.
“Taiwan's economy will be impacted by weak demand for some time, we estimate GDP growth at 1.2% in Q4 2022,” S&P said. Taiwanese authorities currently forecast 3.76% GDP growth for 2022.
Today’s data follows weakening consumer confidence reported last week. (See MNI BRIEF: Taiwan Consumer Confidence Drops For Ninth Month)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.