Taiwan: June PMI still solid despite a modest easing

研报英文原文证据摘录

Taiwan: June PMI still solid despite a modest easing

J P M O R G A N Asia Pacific Economic Research

01 July 2026

Taiwan: June PMI still solid

despite a modest easing

• June PMI stayed in expansion despite a modest cooling from May. Emerging Markets Asia, Economic

and Policy Research

• Demand remained firm, supported by exports, partly also on precautionary

stockbuilding/restocking linked to Middle East disruption. Jiayi Li

(852) 2800-5229

• Business sentiment stayed upbeat, anchored by AI/semiconductor demand jiayi.c.li@jpmorgan.com

visibility and signs of broader improvement. JPMorgan Chase Bank, N.A., Hong Kong Branch

• Price pressure and supply-chain strain eased from recent peaks, but pass-

through to selling prices may moderate with a lag.

Taiwan’s headline manufacturing PMI marked the seventh month of expansion at

55.2, despite the pace moderating from May’s near five-year high. The PMI reading

continued to signal solid operating conditions in Taiwan's manufacturing sector.

Output PMI strengthened further, rising 0.2pt to 55.8, the highest since July 2021.

Demand conditions remained firm, with new orders expanding at a slightly softer but

still substantial pace (56.9), while new export orders rose 2.3pts to 56.4, the second-

fastest rate since January 2022. The upturn was driven partly by precautionary

inventory building and restocking needs linked to the recent Middle East conflict

across both firms and their clients, with finished goods inventory adding 2.3pts to an

elevated 56.4. Future output component edged higher to 60.6, on top of a jump in May,

signaling further business optimism amid bright demand prospects in AI and

semiconductors products and receding energy tail risks.

Price components declined as the peak impact of the Middle East conflict faded,