The manufacturing sector remained “yellow-blue” for the third consecutive month in May, signaling a sluggish performance that reflected a fall in raw material prices in the month, the Taiwan Institute of Economic Research (台灣經濟研究院) said yesterday.
The institute said the composite index for the manufacturing sector for May rose 0.33 points from a month earlier to 11.16, but the score remained within the “yellow-blue” category, which ranges from 10.5 to 13 points.
The May composite index for the manufacturing sector came after the wholesale production index fell 1.12 percent from a year earlier. However, export orders for the same month rose 9.1 percent year-on-year for the 10th consecutive month and industrial production returned to year-on-year growth, up 0.78 percent on the back of solid global demand.
Four of the five sub-indices for the manufacturing sector moved higher, while the sub-index for pricing fell by 0.65 points from a month earlier, the institute said.
The sub-indices for raw material investments, operating costs, demand and business environment rose 0.50, 0.25, 0.19 and 0.02 points respectively from a month earlier, it said.
The institute said that the electronic components industry benefited from a smooth inventory adjustment process among its customers, which boosted demand for high-end semiconductors in May, the metal industry reported rising demand for steel products and the machinery industry saw improving sentiment as demand for electronic production equipment rose.
The auto parts industry continued to be affected by weak sales in the US and China, while the petrochemical industry again was hit by falling crude oil prices, it added.
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