The Taiwan Institute of Economic Research released the manufacturing boom indicator for December today, and the blue light continued.

(Provided by Taiwan Institute of Economics)

[Reporter Xu Ziling/Taipei Report] The Taiwan Economic Research Institute released the indicator of the manufacturing economy in December today. The signal value was 9.48 points, a decrease of 0.24 points from the previous month, and the blue light representing the economic recession was shown twice in a row.

The Taiwan Institute of Economics pointed out that global inflation and austerity policies have hit the economic growth of various countries. In early December, the number of confirmed cases in China's unblocking has increased sharply, which has caused labor shortages and production cuts.

The Taiwan Institute of Economics stated that due to high inflation, policy tightening and financial market fluctuations, the outlook for the global economy has become weaker, and terminal demand is still weak. The industry continues to adjust to destocking, causing exports, production indexes, and export orders to continue to show negative growth. The performance of indicators such as demand and selling prices.

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However, China gradually relaxed its epidemic prevention and control measures in early December. Not only did international forecasting agencies revise up China's economic growth forecast for 2023, but the proportion of the domestic manufacturing industry that is optimistic about the next half year's prosperity has increased, pushing up the performance of business environment indicators.

Taking a closer look at the details of the industry, in terms of the electronic components industry, although integrated circuits are still receiving orders for automotive and high-performance computing chips, the consumer electronics product business is weak, and customers are adjusting their inventories. Months of double-digit recession, export and production indexes also showed negative growth, and the prosperity light in December changed from a yellow and blue light representing a downturn to a blue light of recession.

Looking ahead, major international organizations predict that the global economy will slow down this year, while China's production and sales activities will resume after the unblocking, but it will have to face problems such as imported inflation with high energy and other prices due to the Russia-Ukraine war, and the potential risk of the US-China technology war heating up.

On the whole, with the relatively high base period and the slowdown in global trade growth, Taiwan's export-oriented manufacturing industry will be under much higher pressure than before.

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