Manufacturing PMI continues surge
RISING TIDE: The subindex on new orders rose to 71.6, its highest since the survey started, while the non-manufacturing index rose to 60.1, its highest since August 2014
By Crystal Hsu / Staff reporter
The official manufacturing purchasing managers’ index (PMI) last month soared to another high of 68.7, as economic activity at home and abroad continued to accelerate, ramping up business at local firms across sectors, the Chunghua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday.
“The nation’s economy looks healthy considering all measures, but industry should remain cautious about uncertainties linked to the COVID-19 pandemic,” CIER president Chang Chuang-chang (張傳章) said.
Taiwan s PMI hits new high on strong new orders, industrial production
05/03/2021 08:42 PM
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Taipei, May 3 (CNA) Taiwan s manufacturing activity continued to expand in the wake of solid growth in new orders and industrial production as the Purchasing Managers Index (PMI) rose to its highest level in April, the Chung-Hua Institution for Economic Research (CIER) said Monday.
Data compiled by CIER showed that the PMI rose 6.0 points from a month earlier to 68.7 in April, a new high since the think tank started to release such statistics in July 2012. The April data marked the sixth consecutive month in which the PMI stood above the 60 mark.
CIER raises GDP growth forecast to 4.8%
POSITIVE PREDICTIONS: Private investment could grow 4.38% this year as tech firms adjust to an increase in demand, while private consumption is expected to rise 5.08%
By Crystal Hsu / Staff reporter
The Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) yesterday raised its forecast for Taiwan’s GDP growth this year to 4.8 percent, an increase of nearly 30 percent from an earlier projection, as exports continue to gain traction while domestic demand continues to recover from the COVID-19 pandemic.
The Taipei-based think tank, which projected 3.73 percent growth in December last year, said that the economy has chance of expanding 5 percent if uncertainty clears up.
Taiwan s 2021 economic growth forecast at 4.8%
04/21/2021 06:30 PM
Visitors to a recent consumer electronics fair in Taipei. CNA file photo
Taipei, April 21 (CNA) Taiwan s economy is likely to grow by an annual 4.8 percent in 2021, after its 3.11 percent rise last year, the Chung-Hua Institution for Economic Research (CIER) said Wednesday, raising its forecast.
The latest growth forecast by the Taipei-based think tank was 1.07 percentage points higher than its prediction late last year of a 3.73 percent increase for 2021.
In raising its forecast, CIER cited three factors, the main one being stronger exports, as the world s two largest economies, China and United States, recover from the COVID-19 pandemic faster than expected, while the rate of vaccination in other major trade partners has picked up.
Demand prompts restart of generator
TAICHUNG PLANT: An official said that generator No. 3 had been retrofitted and it generates 0.46g of particulate pollution per kilowatt-hour, down from 0.6g to 0.7g
By Angelica Oung / Staff reporter
A spike in demand for electricity made it necessary to restart the third coal-fired generator at the Taichung Power Plant, Taiwan Power Co (Taipower, 台電) said yesterday as a feud with the Taichung City Government lingers.
Taichung Mayor Lu Shiow-yen (盧秀燕) has sought to keep the generator from being used. In 2019, he revoked Taipower’s license to operate the generator.
However, the state-run utility has taken the city government to court over the license revocation and won the case in February last year, Taipower manager Chang Ting-shu (張廷抒) said.