TAIPEI (Taiwan News) – April was the 25th consecutive month to see an expansion of Taiwan’s manufacturing activity, according to prominent think tank the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院).
Increased orders for Taiwanese companies, higher production and improvements in the job markets all contributed to the expansion, the Central News Agency reported.
The main indicator of manufacturing activity, the Purchasing Managers’ Index, added 0.5 points in April to reach 58.0, according to CIER. Figures above 50 indicate expansion, below 50 contraction.
In addition to manufacturing, the service sector also performed well, with the Non-Manufacturing Index rising by 1.2 points to 55.6, the 14th consecutive month of expansion.
CIER concluded that Taiwan’s economy would stay the course and continue to grow, CNA reported.
Earlier government figures showed that the economy grew by 3.04 percent during the first quarter of 2018, a stronger performance than the 2.77 percent predicted earlier. Strong exports and private consumption were credited for the positive data.