Taipei--The index devised to evaluate the development of Taiwan's service industry flashed a green light in February, indicating stable growth, according to a survey released Thursday by the Commerce Development Research Institute (CDRI).
The index of service industry (ISI) stood at 103 points in February, down from 105 the previous month, flashing a green light that represents a range of 100 to 103.
The ISI flashed a yellow-red light in January, which represents a range of 104 to 108.
The institute attributed the decline mainly to the sluggishness in the retail and restaurant markets due to weak demand following the conclusion of the Lunar New Year holiday in that month.
The CDRI uses a five-color coded system, in conjunction with the ISI, to describe the climate of Taiwan's service sector, focusing on three major segments -- securities trading, business operations, and the labor market and wages.
Red signals overheating, yellow-red indicates slight overheating, green represents steady growth, yellow-blue signals sluggishness and blue indicates recession.
The CDRI forecast that the ISI could have dropped to 102 points, remaining with a green light in March, when Taiwan entered the traditional low season for tourism and exports before turning to yellow-red in April as the four-day Tomb Sweeping Day weekend might have provided a much-needed boost to the tourism and retail industries.
Source: Focus Taiwan News Channel