The Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院), one of the nation’s leading think tanks, said it would release last month’s purchasing managers index (PMI) tomorrow.
The CIER usually releases the monthly PMI data on the first day of the following month, but due to the six-day Lunar New Year holiday, the announcement of last month’s figures has been delayed.
Analysts said the market has kept a close eye on whether local manufacturing activity continued to expand after the PMI data for December last year rose for a second consecutive month.
The PMI rose to 53.6 in December, up from November’s 52, indicating that the local economy was growing at a stable pace.
In November, the PMI took its first positive turn since reaching a high of 62.4 in March last year.
A PMI reading of above 50 indicates expansion, while a figure below 50 signals contraction.
CIER president Wu Chung-shu (吳中書) said the PMI growth in December largely resulted from increasing demand before the Lunar New Year holiday, but added that the PMI for last month might decline.
Wu said that whether manufacturing activity would continue its expansion would be determined by data that will be released in the months after the holidays.