By: Huang Chiao-wen and Frances Huang
Taipei, Jan. 8 (CNA) An index that gauges the performance of Taiwan’s service sector rose in November from the previous month, indicating recovery, according to the Commerce Development Research Institute (CDRI, 商業發展研究院).
The improvement resulted partly from a NT$4 billion short term stimulus package launched by the government in October to raise consumption, said the CDRI, one of Taiwan’s leading think tanks.
It said the local central bank’s decision in September and December to lower its key interest rates each time by 0.125 percentage points also contributed to the improvement in the service sector.
The index of service industry (ISI) for November stood at 94, points, up from 92 points the previous month, and the local service sector flashed a “yellow-blue” light, improving from a “blue light” in October, the CDRI said in its monthly report. [FULL STORY]