By: Huang Chiao-wen and Frances Huang
Taipei, Dec. 11 (CNA) The local service sector improved in October, flashing a “green light” that signaled stable growth, according to a survey conducted by the Commerce Development Research Institute (CDRI,商發院).
It was the first green light after 19 consecutive months of a “yellow-blue” light that represented a slowdown, said the CDRI, one of Taiwan’s leading think tanks.
The improvement in the local service sector was attributed to a comparatively higher number of holidays in October, anniversary sales campaigns by department stores, and promotional efforts by online vendors, which encouraged consumer spending, according to the CDRI.
The index of service industry (ISI) stood at 101 points in October, up from 97 in the previous month, flashing a green light that represents a range of 100 to 103. [FULL STORY]