By: Tsai Peng-min and Frances Huang
Taipei, Feb. 25 (CNA) Business sentiment in the local manufacturing sector improved in January, partly on the back of solid demand for information/communication devices from the U.S. and European markets, the Taiwan Institute of Economic Research (TIER) said Monday.
TIER, one of the country’s leading economic think tanks, said the improved business sentiment also reflected the fact that prices of production raw materials and petrochemical products stabilized in the month.
Data compiled by TIER shows that the January composite index for the manufacturing sector, which measures market sentiment, rose 3.57 points from a month earlier to 89.57, marking the second consecutive month of increase.
The think tank said strong demand from the U.S. and European markets helped offset weakening global demand, which boosted the business sentiment of Taiwanese manufacturers in the month at a time of a slowdown in the global economy. [FULL STORY]