By: Chen Cheng-wei and Frances Huang
Taipei, June 13 (CNA) The head of Taiwan’s top planning agency, the National Development Council
(NDC), expects Taiwan’s economy to improve in the second half of the year, citing economic data that points to a recovery. At a hearing of the Economics Committee of the Legislative Yuan, NDC chief Chen Tain-jy (陳添枝) said that while the global economy remained sluggish, Taiwan has showed signs of recovering.
Among the positive signs cited by Chen was the local purchasing managers’ index (PMI) remaining in expansion mode in May, when it rose for the third consecutive month to 54.9, up 0.3 points from a month earlier.
Index readings above 50 indicate an expansion in manufacturing, while a figure of below 50 signals contraction.
While Taiwan’s exports fell year-on-year in May for the 16th consecutive month, Chen said machinery imports continued to increase, an indication that manufacturers continue to invest for growth. [FULL STORY]