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The China Economic Research Institute (4) today announced the April Taiwan Manufacturing Purchasing Managers Index (PMI). This month’s halt of 6 consecutive months of expansion turned into contraction, and the index fell 5.5 percentage points to 47.6%, not just in 2019 the lowest level since February 2014 and the biggest decline in history ; Among the five component indicators, including new orders, production volume, and labor, all recorded the largest decline in history; and among the top six industries, new orders in the transportation industry The production number and forecast index for the next six months are the largest declines in the history of co-creation, reflecting the severe impact of the new epidemic of coronary pneumonia in the economy.
At the same time, the “Future Six Month Perspective” index continued to drop 3.0 percentage points to 25.7%, which was also the lowest historical index of low deflation rate. Among them, the transportation industry’s future outlook index was the fastest deflation rate in history.
In April, among the top six industries, the top four industries returned PMI as austerity, which was ranked by the speed of austerity in the transportation industry, the energy equipment and machinery industry, the basic raw materials industry, the food and textile industry, and only the electronics and optics industry and The chemical and biotechnology medical industry expanded.
The Chinese Academy of Economics noted that among the various indicators, “new orders” interrupted expansion for 7 consecutive months, and the index fell 13.0 percentage points to 37.1%, the fastest rate of contraction in history and the biggest drop. The steepest descent and the fastest tightening rate.
The “Production Quantity” index has contracted for 4 consecutive months, and the index fell 9.3 percentage points to 40.2%, the fastest deflation rate in history. Among them, the transportation industry is the fastest deflation rate in history. Only the food and textile industry has been interrupted for 2 consecutive times. Monthly adjustment, the index rose 1.8 percentage points to stay flat.
The “Labor Employment” index continued to decline 2.7 percentage points to 46.5%, the fastest deflation rate in history; The transportation industry and the energy equipment and machinery industry have reported that labor employment has contracted for 3 and 12 months respectively, and fell 8.2 and 3.4 respectively 3 percentage points to 37.0%, 38.6%, of the of which, the labor force employment rate of the power equipment and machinery industry has reached the fastest rate of contraction in history.
In contrast, “customer inventory” was the first time since December 2018 (over 50.0%, higher than current customer needs), the index increased 7.1 percentage points to 50.5%, the largest increase in history, including chemicals and the biotechnology and medicine industry (53.5%), the electronics and optics industry (53.1%) and the food and textile industry (60.0%) returned to high customer inventories. The index rose 8.0, 9.8, and 17.1 percentage points respectively.
The “supplier lead time” index fell 2.1 percentage points from the fastest rate of increase (65.9%) to 63.8%, showing an increase for the sixth consecutive month (more than 50.0%).
According to the Chinese Academy of Economics, both customer inventory and supplier lead times are increasing, reflecting factors such as shipping or air congestion. At the same time, the increase in inventory reflects the decrease in demand and the increase in inventory levels in response to subsequent uncertain risks.
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