TIER Survey Shows Improving July Manufacturing and Service Sectors in Taiwan

With Taiwan's stock market predicted to hit record high by the end of 2014 and improving economy, the business climate index of Taiwan's manufacturing industry hit a four-year high of 104.35 points in July and that of service industry likewise hit a three-year high of 104.14 points, according to the survey by Taiwan Institute of Economic Research (TIER), a private economic think tank in Taiwan.

In the same month the corresponding index of the construction industry posted at 90.41 points, up 9.96 points from 80.45 points of a month earlier; however, the real estate industry witnessed a downtrend as the government works to cool speculative realty investment.

TIER indicates that Taiwan's H1 economic performance was better than expected and many domestic forecast organizations and financial institutions have recently raised predictions on Taiwan's economic growth this year on the belief that H2 economic performance will continue to improve. (JL)