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HSBC Taiwan PMI decreases to 47.4 in Nov

Dec. 4, 2012 (China Knowledge) - The HSBC Taiwan manufacturing purchasing managers' index (PMI), a preliminary gauge of Taiwan's manufacturing sector, decreased to 47.4 in November this year, 0.4 points lower than in October, according to data released by HSBC Holdings PLC<0005>.

A reading below 50 indicates contraction from the previous month, while a reading above 50 suggests expansion.

Donna Kwok, an economist at HSBC Holdings, said the deterioration in Taiwan's PMI last month was mainly due to weak demands in both local and overseas market.

In Q4 this year, Taiwan's PMI is still expected to better than in Q3 with mainland China slowly offset the weak demands in western countries, Kwok added.

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