Taiwan’s manufacturers contracting for 10th consecutive month 

On Monday, the Taiwan Institute of Economic Research stated how the manufacturing sector of Taiwan, in August, had been hurting for the 10 straight months because of the persisting worries over the trade skirmishes between China and the U.S.

According to TIER, which is among Taiwan’s forerunning economic think tanks, Taiwan-based manufacturers, hurt by China’s and the U.S.’s trade war, stayed worried over demands around the world, especially since the trade war appears to not have led to a solution.

Even though the manufacturing sector’s composite index for the month of August increased 0.20 points, relative to the previous month, to reach 9.21, according to data released by TIER, the score was still in the contraction range of 10.5 or less than 10.5 points.

TIER added how one positive point for Taiwan was that it had been receiving bigger investments by Taiwan-based producers in established China so they could save on the increased tariffs levied by the United States on Chinese goods. This, in turn, enhanced Taiwan’s overall activity.

The manufacturing sector of Taiwan, mostly export-focused, has been assisted by brands around the globe who have been striving to launch new technological gadgets, to make up for the international trade skirmishes.

To describe fully the economic activities, the think tank makes use of a five-color system. Here, the red color implies overheating, yellow-red shows rapid growth, green indicates constant growth whereas blue shows contraction.

TIER stated how 2 sub-indexes, namely general business climate and pricing, out of a total of 5 total factors of the composite index, rose in August to 0.21 and 0.29 respectively, relative to the previous month.

TIER added how the sub-indexes on costs, demand, and purchases of raw materials too fell in August, reaching, 0.10, 0.11, and 0.08 respectively, compared to the previous month.

In spite of the variations seen August, all 5 factors displayed blue lights, showing contraction.

 

 

 

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Shreyas Tanna

Shreyas Tanna

The winner of the title Mr. Pune 2009, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called ResearchNReports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Market Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and Researchmoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. Research Moz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”