The prosperity of Taiwan continues to shine in May. (Photo source: Taiwan's United Daily News)
China Taiwan Network reported on June 30th. According to Taiwan media reports, the Taiwan authorities' development affairs department announced on the 29th that the signal of Taiwan's economic response in May once again showed the "yellow blue light" representing the weakening of the economy. The comprehensive judgment score was 18 points, a decrease of 1 point from the previous month. This is the "yellow blue light" for three consecutive months since March this year. The department admitted that Taiwan's economy is still in a very weak state.
According to reports, the economic response signal is also called the economic light signal, which is an indicator of the economic situation represented by 5 different signal lights. A green light indicates stable economic conditions, a red light indicates hot economic conditions, a blue light indicates sluggish economic conditions, and both yellow and red lights and yellow and blue lights are attention-oriented lights. It is advisable to closely observe whether the subsequent economic conditions will turn.
The Taiwan authorities' development affairs department said that the leading economic indicators in May have fallen for seven consecutive months, with a cumulative decline of 5.46%. Compared with last month, the decline has converged. At present, the performance of retail catering and investment on the island has improved significantly, and the financial market is also stable. However, although the decline of comprehensive judgment scores and leading economic indicators has narrowed, the decline is a fact, indicating that the impact of the epidemic on Taiwan is still there, and "the prosperity is still in a weak and decline state."
The department believes that the current international economic and trade situation is still in a pessimistic state, and the external challenges faced by Taiwan cannot be underestimated. The impact of the recent COVID-19 epidemic has gradually emerged. Not only has the unemployment rate exceeded 4%, but the number of people who have reduced work and paid leave has also exceeded 30,000. We will pay close attention to the employment situation on the island in the future. ( China Taiwan Network Li Ning)
