A sluggish recovery

l  According to the latest government statistics, Taiwan's unemployment rate in March remained relatively flat. This disappointing number, in turn, offered little evidence that an across-the-board economic recovery appeared imminent.

l March’s unemployment stood at 4.17 percent on a nominal basis, down 0.07 percent points from the previous month. But the seasonally adjusted jobless number actually rose 0.02 percentage points to 4.18 percent, further dampening the prospects of a recovery many thought was forthcoming.

l  At the same time, a leading private economic institute projected that commercial sales in the local market in April are not expected to increase from a month earlier. Citing factors like the rapidly depreciating Japanese yen, many Taiwanese consumers are postponing their purchase plans in the hope of lower prices, particularly for imports from Japan. This wait-and-see attitude has made consumers more conservative in their spending and investment decisions.

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