Taiwan's commercial service sector is predicted to see growth decline until January next year, according to the latest readings given by the Commerce Development Research Institute (CDRI).
Taiwan-based CDRI releases Business Cycle Coincident Composite Index for Taiwan Service Sector each month, which gauges the prospect of the commercial service sector on the island.
In the September release, the institute noted that strong investment on the island is moderating the current economic decline, yet employment, consumption, and the financial sector have stagnated.
According to its sub-indicators, the wholesale and retail sector, as well as the finance and insurance sector, have decreased modestly, while the real estate sector and residential services sector have increased slightly.
"The leading indicator of employment has already shown signs of worsening, which might have a negative impact on the economy in the near future," said the institute in the report, adding that stimulus measures are necessary to tackle flagging growth.
The Business Cycle Coincident Composite Index for Taiwan Service Sector began to fall since the beginning of 2018 and the pace accelerated in the second half of 2018, culminating in the first half of 2019, according to CDRI.
