PMI indicates expansion for 18 months in a row
The official manufacturing purchasing managers’ index (PMI) posted 59.3 this month, above the expansion threshold for 18 straight months, but increasing costs might weaken companies’ profitability next year, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Taipei-based think tank said that its assessment is based on a month-long survey of local firms. PMI readings aim to gauge the health of the manufacturing industry, with scores above 50 indicating expansion and scores below 50 suggesting a contraction. The growth extended across all manuf...