Manufacturing output growth forecast upgraded

Focus Taiwan
Date: 2017/04/22
By: Huang Li-yun and Frances Huang

Taipei, April 22 (CNA) The government-sponsored Industrial Technology Research Institute’s Industrial Economics and Knowledge Center (IEK) has raised its forecast for growth in production value in Taiwan’s manufacturing sector for 2017 because of a recovery in the global economy.

The IEK said that the output of Taiwan’s manufacturing sector for 2017 will rise 3.2 percent from a year earlier to NT$17.43 trillion (US$573 billion). That’s an upgrade from its previous estimate of a 2.52 percent rise made in January.

With the world’s economy on the way to a recovery, the IEK said, prices of raw materials such as crude oil prices have stabilized and even rebounded, which has reduced the risks of a fall in export value.    [FULL  STORY]

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