Focus Taiwan
Date: 06/24/2020
By: Pan Tzu-yu and Frances Huang

Taipei, June 24 (CNA) Sentiment toward the local manufacturing sector showed signs of improvement in May as many economies have reopened for business as the COVID-19 pandemic appears to be winding down, the Taiwan Institute of Economic Research (TIER) said Wednesday.

Citing the results of a survey, TIER, one of the country's leading think tanks in Taiwan, said the composite index for the manufacturing sector, which gauges business sentiment among manufacturers, rose 4.22 from a month earlier to 85.73 in May, ending a four-month falling streak.

TIER said that as many Taiwanese manufacturers received deferred orders from its foreign clients and petrochemical product prices were boosted by a rebound in international crude oil prices, the local manufacturing sector has demonstrated greater confidence in its business outlook.

In addition, demand for tech devices remained solid at a time when remote work and online learning continued to gain popularity amid the virus spread, so the information and communication technology industry also saw a rise in shipments, TIER said.
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