UPTREND: Petrochemicals are expected to benefit from rising global crude oil prices, while semiconductors should lend support to the ICT industry, the researcher said
Taipei Times
Date: Jan 18, 2018
By: Lisa Wang / Staff reporter
The manufacturing sector is expected to see growth of 3.49 percent this year, as rising commodity prices, including crude oil and steel, help lift the local petrochemical and base metals sectors, the Industrial Economics and Knowledge Center (IEK, 產業經濟與趨勢研究中心) said yesterday.
The forecast represented an upward revision from the 3.25 percent annual growth estimated by the Hsinchu-based researcher in October last year.
IEK expects the manufacturing sector, a key pillar of the nation’s economy, to generate output of NT$18.93 trillion (US$640.39 billion), up from NT$18.29 trillion last year.
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