Manufacturing index inches up in Aug. due to export recovery
CNATAIPEI, Taiwan -- Taiwan's manufacturing sector held a cautiously optimistic outlook on the country's overall business climate in August because of a continued recovery in exports and the global economy, a local think tank said Wednesday.
September 26, 2013, 12:05 am TWN
The monthly manufacturing composite indicator compiled by the Taiwan Institute of Economic Research (TIER), used to help gauge the economic outlook for the next six months, rose 0.42 points to 98.82 in August.
But the service sector index decreased 0.77 points from a month earlier to 95.60, reflecting a bearish outlook on the overall business climate, the institute said.
“Our economy has shown signs of a recovery in the third quarter based on improving export order data, but the pace is not as fast as expected,” Gordon Sun, director of the TIER's macroeconomic forecasting center, said at a press briefing.
Looking ahead to the fourth quarter, Taiwan's economic performance will be affected by United States fiscal policy as well as the expected drawing down of the U.S. Federal Reserve's quantitative easing program.