The manufacturing sector and the service sector in the Republic of China showed signs of recovery in May this year. These are the results of the latest survey of the Institute for Economic Research in the country.
The previous month was registered a growth in the manufacturing sector by 0.13 percentage points, while in services it equals 0.22 percentage points. Unfortunately not the same situation in the construction field. For the same period the country saw traffic slide by 3.4 percentage points.
Mr Sung, the director of the Center for Macroeconomic Forecasting at Taiwan Institute of Economic Research, said that while exports have declined by 3.83% in May this year, production of the country is growing at a good pace during the first five months of 2015.
"Another encouraging factor for improving the economic situation in the country and the fall in unemployment to 3.62%," said Sung. "Low energy costs and slightly higher consumer prices also show that there is a real danger of deflation."
According to him the double-digit growth in imports of auto parts, machinery and raw materials will ensure growth and investment, while it will increase revenues from services. It is also expected the world economy to continue to stabilize.
There are forecasts for improving conditions in the country and abroad in areas as banking, food service, chemical industry and production of home appliances and bicycles.
"Not so optimistic is the forecast for the perspectives in construction sector and securities for the coming six months," said Sung.