By: Pan Tzu-yu and Frances Huang
Taipei, March 29 (CNA) Taiwan’s manufacturing sector struggled for a fourth consecutive month in February because of slowing global economic growth and a long period of inactivity during the month due to the Lunar New Year break, a local think tank said Friday.
The Taiwan Institute of Economic Research (TIER) said its composite index for the manufacturing sector rose 0.26 points in February from a month earlier to 10.18 but still registered a “blue light,” signaling contraction, because it remained below 10.5.
The TIER uses a five-color 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 contraction.
Though the index remained in “blue” territory, it rose slightly, indicating that manufacturers may be more upbeat over their prospects the next few months, the TIER said. [FULL STORY]