The manufacturing, service, and construction industries all hit a slump in September. That’s according to indicators released by the Taiwan Institute of Economic Research on Friday.
The think tank’s director, Gordon Sun, says that the ongoing US-China trade war is the main factor affecting Taiwan’s economic performance. He says that the trade war has led to slowing global demand, which in turn affects Taiwan’s exports. He says this lukewarm performance has had an impact on Taiwan’s domestic market as well.
Sun says that despite the slump, Taiwan’s economy could see recovery in the near future. He says that US-China trade tensions could ease up, and that some Taiwanese businesses could invest more locally, factors that may drive the economy forward.