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Think tank raises forecast for Taiwan's manufacturing

Xinhua, November 30, 2016 Adjust font size:

Taiwan's manufacturing industry is expected to improve in 2016 after exports and industrial production showed signs of recovery, a think tank report said Wednesday.

The Taiwan Institute of Economic Research (TIER) raised the outlook composite index of the local manufacturing sector for 2016 from blue to yellow-blue.

TIER uses a five-color system to describe economic activity, with red for overheating, yellow-red for strong growth, green for stable growth, yellow-blue for sluggish growth, and blue indicating contraction.

In a breakdown, TIER forecast the fiber, garment, metal making industries as blue, with electronics and transport equipment sectors yellow-blue.

Taiwan's exports posted a third consecutive monthly increase in October on the back of high demand for telecommunications and electronic products, according to official data.

It forecast that orders for electronics and telecommunications products will continue to grow at a steady pace for the rest of the year as Europe and the United States enter a major shopping season. Endi