By: Huang Chiao-wen and Frances Huang
Taipei, June 11 (CNA) The local service sector remained weak in April, with an index that gauges the climate of the sector pointing to a slowdown, as exports continued to falter amid slow global demand, according to the Commerce Development Research Institute (CDRI).
In its most recent monthly report, the think tank said the index of service industry (ISI) stood at 95 points, down three points from a month earlier, flashing a “yellow-blue” light for the third consecutive month.
The CDRI attributed the yellow-blue light in April to a poor export performance, a drop in the number of Chinese tourists to Taiwan, and the approach of the tax season, which usually affects domestic consumption as people try to keep some cash in hand.
The CDRI uses a five-color coded system, coupled with the ISI, to describe the climate of the local service sector, focusing on three major segments — securities trading, the labor market and wages, and business operations. [FULL STORY]