Taiwan’s manufacturing sector has shown signs of a slight recovery. That’s according to analysis released today from the Taiwan Institute of Economic Research (TIER), the nation’s top economic think tank.
The TIER’s analysis shows that the manufacturing composite indicator climbed to 10.59 during July, up from 9.82 of the previous month. According to the TIER’s five-color-coded system, the new figure falls into the “yellow” range, which indicates that the sector is “sluggish”. This ends 15 months of “blue”, which is the worst of the five colors, denoting a contracting economy.
An assistant researcher from TIER says that the slight recovery was driven by a warming semi-conductor industry, which also contributed to growth in exports. However, the researcher said that the manufacturing sector has only recovered for one month, and that its future remains to be seen.