The Taiwan Manufacturing PMI registered 50.4 percent in February, which is 8.6 percentage points lower than the 59.0 percent in January. The big decline in new orders and production is the main reason to the lower PMI output. Taiwan NMI registered 50.7 percent in February, which is 5.2 percentage points lower than the 55.9 percent in January. The slower growth in new orders and business activity are the two major reasons to the lower NMI reading.