By: Pan Tzu-yu and Evelyn Kao
Taipei, July 30 (CNA) The local manufacturing sector remained weak in June with its recovery uncertain amid the global resurgence of the COVID-19 pandemic, the Taiwan Institute of Economic Research (TIER) said Thursday.
The composite index for the local manufacturing sector edged up 0.09 points in June from a month earlier to 10.09, flashing another blue light, which indicates contraction, for the fourth consecutive month, according to data compiled by TIER.
However, the June index also rose for the second consecutive month, pointing to a gradual rebound in domestic manufacturing sector, on expectations that economic reopening around the world after COVID-19 initially appeared to ease will boost foreign demand.
TIER, one of Taiwan's leading think tanks, uses a five-color coded system to describe economic activity, with red indicating overheating, yellow-red showing fast growth, green representing stable growth, yellow-blue signaling sluggish growth and blue reflecting a contraction. [FULL STORY]