The S&P Global Taiwan Manufacturing PMI increased to 47.4 in August from 46.2 in July, although July marked the steepest decline since August 2023. The latest figure represented the sixth consecutive monthly drop, weighed down by subdued demand. Customer demand declined both domestically and overseas, with new export business also falling at a softer but still notable pace, largely due to the impact of US tariffs. Consequently, firms remain cautious regarding staff hiring and input purchasing. On the price front, selling prices were broadly stable after five months of discounting. Looking ahead, business sentiment weakened amid uncertainty over US tariffs and the wider global economic climate.