Taiwan's manufacturing activity increased at a faster pace in July as output and new orders rose sharply, results of a survey by Markit Economics and HSBC Bank showed Friday.
The HSBC manufacturing purchasing managers' index, or PMI, rose to 55.8 in July from 54 in June, increasing at the sharpest rate since April 2011. A reading above 50 signals expansion in activity.
New orders expanded at the fastest pace in three and a half years in July. New export orders also rose at a robust pace.
Subsequently, production increased for the eleventh consecutive month in July, at the sharpest rate since January.
Staffing levels improved for the fourteenth consecutive month in July. The rate of expansion was the fastest since April 2011. However, despite increased employment, backlogs of work increased in July.
Input costs rose at its fastest pace since May 2011 in July to the highest level in thirty eight months. Meanwhile, output prices declined in July, though at the slowest rate in six months.
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