Three major industries saw an improved business climate in February. That’s according to a report by the Taiwan Institute of Economic Research (TIER) out Friday.
The business climate for the manufacturing and the service industries during February was at its best since last summer. The construction sector also ended its downward pattern.
TIER President Lin Chien-fu said the global economic outlook is not as pessimistic as it was in early January. That’s due to the rebound of oil prices, the Fed’s decision to delay raising interest rates, and the Quantitative Easing (QE) policy implemented by the Eurozone, China, and Japan.
Lin said that while Taiwan’s foreign trade and export orders are still not at satisfactory levels, momentum will gradually increase.
“Based on the [economic] data, the scale of shrinking is gradually narrowing. With the global economic outlook gradually stabilizing, it is expected that the economy will improve bit by bit. The domestic economy will also have a chance of a gradual rebound after the first quarter of this year," said Lin.