By: Central News Agency
The Industrial Economics and Knowledge Center (IEK) under the government-sponsored Industrial Technology Research Institute has raised its forecast of output growth for Taiwan’s manufacturing sector due to a growing global economy.
The IEK said that local machinery firms as a whole are expected to climb out of the doldrums seen in 2016 and return to a growth pattern this year.
According to the IEK, the production value of Taiwan’s manufacturing sector for 2017 is expected to grow 3.87 percent from a year earlier, up 0.67 percentage points from the research group’s earlier estimate. The IEK said that it remains upbeat about the economic fundamentals of the United States, the eurozone, Japan, China and the Association of Southeast Asian Nations (ASEAN), the major buyers of Taiwan’s products. It added that Taiwan’s exports-oriented manufacturing sector will benefit from this positive trend. [FULL STORY]