Hello dear friends!
June 24, 2022
- Shirley Lin
A survey of Taiwanese manufacturers found business sentiment in May fell to its lowest level in nearly two years. The Taiwan Institute of Economic Research said the value of its indicator fell for the fifth consecutive month. May’s number is the lowest since July 2020.
The institute says that while the manufacturing, packaging and testing of semiconductor chips is still in high demand, demand for electronic products is declining. This has resulted in a realignment of the supply chain for inventory and shipping orders. As a result, the business climate in the manufacturing sector in May was 92.58 points, down 2.21 points from last month.
But Taiwan’s services sector performed better than expected. Experts at the institute say it saw a slight recovery in May.
The institute expects local businesses to recover from the five-month slump once the COVID pandemic in Taiwan subsides and the government eases border controls.