Business confidence among Taiwanese manufacturers weakened last month as the trade dispute between the US and China escalated, a survey by the Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) showed.
The rising trade tensions affected global demand and put downward pressure on Taiwanese exports, which left export-oriented manufacturers less confident about their business prospects, TIER president Chang Chien-yi (張建一) said on Tuesday.
The composite index for the manufacturing sector slid 0.15 points from a month earlier to 94.44, falling for a second straight month, the institute said.
The nation earlier reported that exports and export orders for last month declined for a seventh consecutive month.
Exports fell 4.8 percent from a year earlier, while export orders dropped 5.8 percent.
The institute said that decreasing demand contributed to inventory adjustments in the global semiconductor sector, dampening market sentiment, while a drop in electronics and machinery product prices left local exporters nervous.
Of the manufacturers surveyed, 25.1 percent said the business climate had improved last month, up from 21.6 percent in a similar survey conducted in April, while 32.8 percent thought the business climate had worsened, up from 26.2 percent in the April poll.
The poll showed that 17.7 percent of respondents expected the business climate to improve over the next six months, down from 30.9 percent in April, while 26.8 percent predicted that the business climate would deteriorate, up from 21.2 percent in the April poll.
The sub-index for the property sector rose 3.3 points from a month earlier to 93.96, as home transactions increased, the institute said.
The composite index for the service sector climbed 1.52 points from a month earlier to 98.22, as life insurers reported foreign-exchange gains, and the food and beverage industry recorded more sales, it said.
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