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《經濟》台灣3月標普製造業PMI回落至53.3 企業展望仍高度樂觀
標普全球公布,經季調後,台灣3月標普製造業PMI由前值所創逾四年高位55.2,回落至53.3,反映台灣製造業的增長腳步放慢,但仍維持顯著改善。總的來說,景氣狀況連續四個月好轉。台灣製造業3月增長腳步放慢,但維持顯著改善。不論生產數量、新增訂單,以及出口業務,擴張速度皆比2月趨緩,而綜觀過往數據,則仍屬歷來高位之一。另一方面,因中東戰事影響,生產成本飆升,供應...
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《經濟》台灣3月標普製造業PMI回落至53.3 企業展望仍高度樂觀
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標普全球公布,經季調後,台灣3月標普製造業PMI由前值所創逾四年高位55.2,回落至53.3,反映台灣製造業的增長腳步放慢,但仍維持顯著改善。總的來說,景氣狀況連續四個月好轉。

台灣製造業3月增長腳步放慢,但維持顯著改善。不論生產數量、新增訂單,以及出口業務,擴張速度皆比2月趨緩,而綜觀過往數據,則仍屬歷來高位之一。另一方面,因中東戰事影響,生產成本飆升,供應商表現也大幅倒退;不過,企業在評估生產前景時,依然高度樂觀。

生產數量的擴張速度趨緩,引領PMI指數回落。經季節調整的產出指數從2月的多年高位下滑,但數值仍高於長期平均水平,而且擴張速度明顯加快。企業通常表示,因應客戶需求而增產。

新增訂單於第一季末的增長表現也如出一轍,擴張速度雖減慢,但仍居2025年1月以來次高。受訪業者透露,內需與出口巿場為接單增長提供支持,特別是半導體與AI產業。外銷訂單增長雖比2月收斂,卻依然明顯,受訪業者指出,當中以歐洲、日本、中國及美國的銷售額增幅最大。

因應訂單湧入,廠商於是在3月連4月增加採購,擴張速度雖比2月減慢,但總體依然明顯,且高於長期平均水平。多家企業預計,供應商將會調高售價,因此擴大採購,庫存增幅雖比上月收斂,擴張速度中等,卻仍處歷史高位之一。

在企業對投入品的需求轉強,與中東戰事擾亂供應鏈交錯下,供應商表現加速倒退。值得一提的是,交期延宕的情況為2022年6月以來最嚴重。

採購成本的漲幅接近四年以來次高,反映價格壓力依然巨大。多家廠商表示,因供應鏈受到干擾,造成油價和原物料價格飆漲。

成本壓力加劇,促使企業在3月再度調高售價,漲幅為2022年7月以來最大。

台灣製造業的接單情況和生產數量雖持續改善,但3月受僱的員工人數不升反跌,這是三個月以來首次,惟減幅不大。企業通常指出,員工自願離職後未有填補空缺,因此就業人數下降。

在此情況下,未完成訂單的數量繼續大幅增多,反映產能壓力尚未紓緩,而積壓速度更加快至2022年年初以來第二高。

對於未來一年生產,企業在3月依然非常看好,樂觀情緒與2月的21個月高位相若。廠商普遍認為全球需求持續強勁,可望帶動業務增長,尤其與AI相關的產業。不過,許多企業對中東戰事表示關注,並憂慮局勢衝擊供應鏈和價格走向。(da/j)

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