May 02, 2024 12:20 PM

ECONOMY

Taiwan Halts Two-Year Factory Slump in Sign of Broader Rebound

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A worker checks the carbon-fiber composite made for wind blades stored at the Swancor Holding Co., factory in Nantou, Taiwan, on Feb. 19. Photo: Bloomberg

A worker checks the carbon-fiber composite made for wind blades stored at the Swancor Holding Co., factory in Nantou, Taiwan, on Feb. 19. Photo: Bloomberg

(Bloomberg) — Taiwan’s factory activity expanded for the first time in two years, leading a broad rebound in Asia.

The semiconductor powerhouse posted a manufacturing purchasing managers’ index of 50.2 last month, up from 49.3 in March and posting its best result since April 2022, according to data published Thursday by S&P Global. A reading above 50 indicates expansion, while anything below shows contraction.

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