Manufacturing confidence inches upMIXED PERSPECTIVES: Business sentiment is more positive among ASEAN and Indian markets, and is expected to pick up in China amid its COVID-19 reopening, TIER saidBy Crystal Hsu / Staff reporterBusiness confidence last month picked up among domestic manufacturers and service providers, but the construction and property sectors turned gloomy ahead of the expected enactment of unfavorable legislation, the Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) said yesterday. The sentiment reading gained a fractional 0.87 points among local manufacturing sectors, reversing 10 months of a downturn, as most firms are neutral or slightly more optimistic about business prospects, TIER president Chang Chien-yi (張建一) said. The sentiment measure among local service providers rose 0.31 points to 91.21, terminating three months of decline, TIER said. In contrast, shipping and logistics service providers took a hard hit, as recession fears weighed on demand, it said. The confidence reading dropped 0.24 points to 85.6 among the construction and property sectors, softening for four consecutive months, it said.

Source: Taipei Times December 27, 2022 00:46 UTC