Taiwan's manufacturing sector activity gained momentum in March on improving business conditions, Markit Economics said Monday.
The Purchasing Managers' Index rose to 54.1 in March from 52.7 in February. The rate of growth strengthened, and was above the long-run trend.
A marked rise in new business was reported by manufacturers. Despite a marked rise in output, backlogs of work were reported to have increased in March.
Manufacturers reported an increase in employment, but the rate of expansion was marginal. In line with the rise in new orders and higher output, purchasing activity increased markedly, the survey showed.
Input prices rose considerably in March due to higher raw material and petrol costs. At the same time, a slight increase in output prices was reported. A strong competition for new business prevented a sharper increase.
by RTT Staff Writer
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