TOKYO -- Taiwan's manufacturing sector in January contracted at the fastest pace in more than three years as production and export sales fell, according to a survey.

The Nikkei Taiwan Manufacturing Purchasing Managers' Index, or PMI, fell to 47.5 in January from 47.7 in December, falling further below the 50-point line separating expansion from contraction. It was the weakest reading since September 2015.

Respondents said production continued to fall as new orders fell. Exports dropped at the fastest rate since August 2015. They continue to expect weak output amid concerns over the fallout of the U.S.-China trade dispute.

"Taiwan's manufacturing sector had a disappointing start to 2019, with conditions deteriorating at the quickest pace for nearly three-and-a-half years," said Annabel Fiddes, Principal Economist at IHS Markit, which compiles the survey.

(Nikkei)

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