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News
Taiwan manufacturing registers growth for 2nd straight month
 
 
Taiwan Trade Center, Bucharest
2017-01-09
         
  

 

 

On the back of a recovery in global demand, Taiwan's manufacturing sector registered a slight growth for the second consecutive month in November, 2016, improving from the contraction recorded in September, said the Taiwan Institute of Economic Research (TIER), one of Taiwan's leading economic think tanks.
 
 
According to a composite index devised by TIER, Taiwan's manufacturing sector for November stood at 11.80 points, up from 11.05 recorded in October. The think tank has also revised upward the index for October from a previous reading of 10.45 points. According to the TIER index, points between 10.5 and 13 signal slight growth, while points below 10.5 signal contraction.
 
 
The think tank said that the higher index for November largely reflected rising global demand, which pushed up sales of many export-oriented manufacturers in the month, while an increase in international crude oil prices gave an additional boost to raw material prices and eventually benefited local exporters.
 
 
In November, exports rose 12.1% from a year earlier to US$25.34 billion, the highest year-on-year growth in 46 months, government data shows.
 
 
Among the 5 sub-indices in the composite index, 3 moved higher and one fell, with one remaining unchanged in November.
 
 
The think tank said that as long as global demand continues to improve, Taiwan's manufacturing sector is expected to become stable. It added that in reflection of a booming electronics industry, Taiwan's manufacturing sector is likely to see a slight growth in the first or second quarter of next year.
 
 
Source: Focus Taiwan
Lillian Lee (lillianlee@taitra.org.tw)
 
 
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