Major industries continue to slump, TIER warns

Taiwan's manufacturing and construction sectors continued to slump in April while the service sector remained steady. That's according to the latest figures from by the Taiwan Institute of Economic Research (TIER) on Thursday.

The national think tank said manufacturing slumped for the fourth consecutive month for a new low since February 2016. The construction sector also dropped for the second straight month.

TIER head Lin Chien-fu said export orders saw positive growth. However, fluctuations in raw material and metal prices have taken their toll, as well as the exchange rate for the Taiwan dollar.

Lin said business will mostly remain stagnant in the coming months, except for the financial sector, which may benefit from strong stock market performance.

Source: Radio Taiwan International