Taiwan’s manufacturing activity remained slow for the tenth consecutive month, according to the Taiwan Institute of Economic Research (TIER).
The TIER is one of Taiwan’s leading economic think tanks. It said that the stagnation largely reflected a move by international buyers to put their orders on hold at a time when global crude oil and raw material prices have been on a decline.
The TIER said for the entire 2014, the local manufacturing climate also signaled a yellow-blue light as a plunge in crude oil prices took a toll on petrochemical exports.
The think tank uses a five-light system to describe the state of the economy, and a yellow-blue light suggests slow growth.