Taipei, Nov. 27 (CNA) Business sentiment in the local manufacturing sector fell in October for the 10th consecutive month, amid fast-growing inflation in the global economy, according to the Taiwan Institute of Economic Research (TIER).
TIER data released Friday showed that the composite index for business sentiment in Taiwan’s manufacturing sector dropped by a monthly 0.43 points in October to 84.20, the lowest level in two and a half years.
The decline came amid continued high inflation in the United States and Europe — two of the major buyers of Taiwan-made goods — and strain on the global economy resulting from the war between Russia and Ukraine, TIER President Chang Chien-yi (張建一) said.
Under such unfavorable circumstances, inventory adjustments continued, hurting global demand, and an increasing number of manufacturers became cautious in their outlook for production expansion and market…
