Taiwan's construction sector is showing its best performance since 2014, while the manufacturing and service sectors have both dipped from the previous month. That's according to the Taiwan Institute of Economic Research (TIER), the nation's leading economic think tank.
TIER's numbers for February suggest manufacturing has dipped for the second straight month, while the service sector ended its two-month climb and fell slightly from January.
TIER director Sun Ming-der expressed concerns over the lackluster performance of both the service and the manufacturing sectors.
"I am quite concerned about the drop for the last two months. If this trend continues, it might mean that the upward momentum that began last year might come to a halt, and the service sector may face a new slump. On top of that, domestic demand is not very high at the moment and oil prices have been climbing. Both factors add to the purchasing costs for our businesses. The appreciating Taiwan dollar is also adding pressure [on exports]. I hope the pressure will taper off after March or April," said Sun.
A TIER analyst said the government's increased investment in public infrastructure was largely responsible for growth in the construction sector.
Source: Radio Taiwan International