Taiwan Business Indicators in January 2011
Press Release
Council for Economic Planning and Development
March 1, 2011
In January 2011, Taiwan Business Indicators indicated that the economy continued its steady growth optimistically. Among the indicators compiled by the Cabinet’s Council for Economic Planning and Development (CEPD), the annualized six-month rate of change of leading index increased 0.2 points, the trend-adjusted coincident index increased by 0.9% from the previous month, and the overall monitoring indicator flashed the "yellow-red" signal.
1. Leading Indicators: With revised data, the composite leading index stood at 124.8, up by 0.6% from December. Its annualized six-month rate of change increased by 0.2 points to 4.2%. Among the seven indicators making up the trend-adjusted index, index of export orders, stock price index, building permits had positive cyclical movement from previous month. SEMI book-to-bill ratio, index of producer's inventory for manufacturing, average monthly overtime in industry and services, and real monetary aggregates M1B had negative cyclical movements from previous month.
2. Coincident Indicators: With revised data, the coincident index stood at 134.6, up by 1.8% from December. Its trend-adjusted index increased by 0.9% to 107.6. Among the seven indicators making up the trend-adjusted index, the industrial production index, electric power consumption, sales index of wholesale, retail and food services, nonagricultural employment, index of producer’s shipment for manufacturing and real machineries and electrical equipments imports had positive cyclical movements from previous month. The real customs-cleared exports had negative cyclical movements from previous month.
3. Lagging Indicators: With revised data, the lagging index stood at 132.0, up by 1.6% from December. Its trend-adjusted index rose by 0.6% to 105.5. Among the six indicators making up the trend-adjusted index, unemployment rate, loans and investments of major financial institutions, regular employees on payrolls in industry and services, and interbank overnight call-loan rate had positive cyclical movements from previous month.
4. The Monitoring Indicators: The total score in December 2010 was adjusted upward by one point to 34, following the revision of manufacturing sales. January's total score remained at 34, flashing the "yellow-red" signal for the fifth consecutive month. Among the nine components, direct and indirect finance gained one point and changed its individual light signal from "yellow-blue" to "green", sales index of wholesale, retail and food services gained two points and changed its individual light signal from "green" to "red". Stock price, customs cleared exports and imports of machineries and electrical equipments each lost one point and changed their individual light signals from "yellow-red" to "green". The light signals for the rest of four components remained unchanged.
~~ The next release is scheduled for March 28 2011 ~~