The S&P Global Taiwan Manufacturing PMI fell to 47.2 in June 2025, from 48.6 the previous month. This marked the steepest contraction in manufacturing activity since December 2023, as output declined at its fastest pace since that time amid weaker demand and lower volumes of new orders. On the employment side, job numbers continued to fall in response to reduced new work intakes and cost-cutting measures, with the pace of job losses remaining steady and only marginally changed from May. Regarding costs, input prices rose slightly, driven primarily by higher raw material expenses. Conversely, output prices declined for the fourth consecutive month, reflecting efforts to stimulate sales and negotiate prices with customers. Looking ahead, manufacturers remained pessimistic about the outlook for the coming year for the third month running, citing persistent uncertainty surrounding US tariffs and the broader global trade environment.