By: Jalen Chung and Frances Huang
Taipei, April 25 (CNA) The production value of Taiwan’s machine tool sector is expected to grow slightly in 2015 because of growing demand from the United States, the world’s largest economy, according to the Industrial Economics and Knowledge Center (IEK, 工研院產業經濟與趨勢研究中心).
In a report, the IEK said Taiwanese machine tool makers could also get a boost this year from rising demand in some European countries, such as Spain and Switzerland, and from higher car sales driven by lower fuel prices.
The output value of Taiwan’s machine tool business will grow 1.3 percent to 2.5 percent in 2015 to about NT$152.9 billion (US$4.92 billion), according to the IEK, a research unit under the government-sponsored Industrial Technology Research Institute (工研院). [FULL STORY]