Radio Taiwan International
Date: 2018-06-25

Taiwan’s manufacturing and service sectors saw minor growth in the month of May,

while the construction sector’s continued decline has also slowed. That’s according to the latest figures from the Taiwan Institute of Economic Research (TIER), a local economic think tank.

TIER listed a number of factors that impacted the manufacturing sector. Global factors include the recovering economy of the United States, and positive changes to the European Central Bank’s current policies. Domestically, the institute said the rising export trade volume, especially in electronic components, brought a positive outlook to local manufacturers.

While the service sector benefited from the strong performance of the stock market, TIER said the construction sector still suffered from negative factors like the rising cost of construction materials.

A new pension structure for retired military personnel, government workers and teachers will be adopted in Taiwan, starting in July. Asked about the potential effect, TIER official Gordon Sun said the changes will have little impact on domestic consumption.    [SOURCE]