标普全球台湾制造业PMI从7月的46.2升至8月的47.4，尽管7月创下2023年8月以来的最大跌幅。最新数据显示，受需求疲软的影响，连续第六个月下降。国内和海外的客户需求都有所下降，新的出口业务也以疲软但仍然显著的速度下降，这主要是由于美国关税的影响。因此，公司对员工招聘和投入采购仍持谨慎态度。在价格方面，经过五个月的折扣后，销售价格大致稳定。展望未来，由于美国关税和更广泛的全球经济环境的不确定性，商业情绪减弱。

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.

台湾的消费者信心指数从7月份的64.38下滑至2025年8月的63.31，创下2023年4月以来的最低水平，六个关键指标中有五个恶化。对耐用品购买的预期下降幅度最大（7月份为94.53比96.57），其次是价格水平前景（30.72比32.74）、家庭财务状况（75.15比76.65）、国内经济前景（79.17比80.65）和就业机会（69.12比70.53）。相比之下，人们对股票投资时机的看法明显改善（31.2比29.11）。其他指标也有所减弱，包括房地产购买时间（92.73比94.48）以及当前和预期的健康状况（分别为84.16比85.65和78.41比79.92）。

Taiwan’s consumer confidence index slipped to 63.31 in August 2025, down from 64.38 in July, marking the weakest level since April 2023 as five of six key indicators deteriorated. The sharpest decline was seen in expectations for durable goods purchases (94.53 vs 96.57 in July), followed by price level outlook (30.72 vs 32.74), household financial conditions (75.15 vs 76.65), domestic economic outlook (79.17 vs 80.65), and employment opportunities (69.12 vs 70.53). By contrast, perceptions of the timing for stock investment improved notably (31.2 vs 29.11). Additional indicators also weakened, including the timing for real estate purchases (92.73 vs 94.48) and both current and expected health conditions (84.16 vs 85.65 and 78.41 vs 79.92, respectively).

台湾7月工业生产同比增长18.11%，低于上月修正后的18.32%。制造业产出增长放缓（19.55%，6月份为19.87%）。此外，采矿和采石业的产量进一步下降（-15.66%对-8.56%）。与此同时，电力和天然气供应的产出以较温和的速度收缩（-7.70%对-9.81%），而供水的产出则有所恢复（0.91%对-0.73%）。经季节性调整的月度数据显示，7月份工业活动下降1.40%，较前一时期向上修正的4.19%有所缓解。

Industrial production in Taiwan rose by 18.11% year-on-year in July, slowing from a downwardly revised 18.32% gain in the previous month. Output growth slowed for manufacturing (19.55% vs 19.87% in June). Additionally, production declined further for mining and quarrying (-15.66% vs -8.56%). Meanwhile, output contracted at a softer pace for electricity and gas supply (-7.70% vs -9.81%), while it recovered for water supply (0.91% vs -0.73%). On a seasonally adjusted monthly basis, industrial activity fell by 1.40% in July, easing from an upwardly revised 4.19% drop in the preceding period.

2025年7月，台湾零售额同比下降3.6%，较上月下降2.9%进一步下降。这标志着零售活动连续第四个月下降，也是该序列中收缩幅度最大的一个月，因为燃料和相关产品（6月份为-8.7%对-6.9%）以及机动车、摩托车和相关零部件和配件（-19.7%对-17.3%）的销售额继续下降。此外，信息和通信设备以及家用电器的贸易大幅下降（-4.3%对2.6%），而建筑材料（3.5%对4.5%）、电子购物和邮购（7.3%对8.9%）以及其他零售（5.8%对6.8%）的贸易则有所放缓。与此同时，食品、饮料和烟草（9.8%对7.7%）以及非商店或摊位零售贸易（5.4%对4.9%）的销售加速。按月度计算，2025年7月零售活动下降了0.4%，较前一个月的1.5%有所缓解。

Retail sales in Taiwan fell by 3.6% year-on-year in July 2025, declining further from a 2.9% drop in the previous month. This marked the fourth consecutive month of falling retail activity and the sharpest contraction in the sequence, as sales continued to decrease for fuel and related products (-8.7% vs -6.9% in June) and motor vehicles, motorcycles, and related parts and accessories (-19.7% vs -17.3%). In addition, trade tumbled for information and communication equipment and electrical household appliances (-4.3% vs 2.6%), while it moderated for construction materials (3.5% vs 4.5%), electronic shopping and mail-order houses (7.3% vs 8.9%), and other retail sales (5.8% vs 6.8%). Meanwhile, sales accelerated for food, beverages, and tobacco (9.8% vs 7.7%) and retail trade not in stores or stalls (5.4% vs 4.9%). On a monthly basis, retail activity fell by 0.4% in July 2025, easing from a 1.5% drop in the previous month.