The China Post
Date: July 27, 2016
By: CNA
TAIPEI–A government-sponsored economic research group on Tuesday cut its forecast for the output growth of Taiwan’s manufacturing sector in 2016, now saying it will fall into negative territory because of weak global demand.
Citing results from its quarterly model, the Industrial Technology Research Institute’s Industrial Economics and Knowledge Center (IEK) slashed its forecast for manufacturing output growth this year to minus 1.71 percent, from a forecast of 0.11 percent growth made in April.
According to the IEK, manufacturing output is expected to reach NT$17.44 trillion (US$542 billion) this year, which would be down 1.71 percent from the sector’s production value of NT$17.75 trillion in 2015.
The research group said the world’s major economies, such as the United States, the eurozone, China and Japan, have seen weak demand for machinery and equipment, reflecting a lack of confidence in investment in those economies. [FULL STORY]
