Activity in Taiwan's manufacturing sector increased for the fourth successive month in March, and at a faster pace than in the previous month, data released by Markit Economics and HSBC Bank showed Monday.
The seasonally adjusted purchasing managers' index (PMI) for the manufacturing sector increased to 51.2 in March from 50.2 in February. An index reading above 50 signals expansion in the sector, while one below indicates contraction.
New orders received by manufacturing firms increased for the fourth successive month in March, and the rate of growth quickened modestly.
Reflecting the improvement in the order position, production increased further during the month. Firms, meanwhile, lowered their staffing levels modestly, ending four months of job creation.
Input prices faced by manufacturers rose for the sixth consecutive month, and the rate of inflation accelerated from February amid higher raw material costs. Output charges, meanwhile, decreased during the month, extending the current trend to one year.
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