The composite index for the manufacturing sector flashed a “green” signal last month, indicating steady sentiment on the back of the continued economic recovery in the US and Europe, the Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) said yesterday.
The index gauges the health of the manufacturing sector in terms of demand, selling prices, costs, production input and operating environment.
The index rose to 13.38 points last month from a revised 10.62 points, when it flashed a “yellow-blue” signal, suggesting sluggish sentiment, in March, the institute said in its monthly report.
The report came on the heels of a series of economic data released over the past few days showing exports, industrial production and export orders last month improving slightly compared with a year earlier.
“The economic recovery in the US and Europe have bolstered sentiment in the local manufacturing sector,” the institute said.
Strong end-market demand in the US and Europe caused both the machinery and automobile industries to flash a “yellow-red” signal — signifying rising sentiment — last month, data showed.
Meanwhile, the introduction of various new smartphones over the past two months drove the electronics sector to flash “green,” data showed. The textile, apparel and clothing accessories industries also flashed “green” last month, turning from “yellow-blue” in March, the report showed.
The petrochemical and coal product industries flashed a “blue” signal — implying declining sentiment — due to slowing production momentum, it said.
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