Press Release
National Development Council (NDC)
January 27, 2015
In December 2014, the Taiwan Business Indicators showed that the domestic economy remained broadly stable. Among the indicators compiled by the National Development Council (NDC), the trend-adjusted leading index decreased by 0.06%, the trend-adjusted coincident index increased by 0.08% from the previous month, and the overall monitoring indicator flashed the "yellow-blue" signal.
1. The Monitoring Indicators: Total scores in December 2014 decreased by three points to 22, flashing the “yellow-blue” signal for the first month. Among the nine components, the customs-cleared exports and the index of producer’s shipment for manufacturing each lost one point to change its individual light from “green” to “yellow-blue”, the imports of machineries and electrical equipments lost two points to change its individual light signal from “yellow-red” to “yellow-blue”, while the TIER manufacturing sector composite indicator gained one point to change its individual light signal form “yellow-blue” to “green”. The light signal for the rest of five components remained unchanged.
2. Leading Indicators: With revised data, the trend-adjusted leading index stood at 99.66, down by 0.06% from November 2014. Among the seven indicators making up the trend-adjusted index, the index of export orders, and real monetary aggregates M1B had positive cyclical movements from the previous month, while the TIER manufacturing sector composite indicator, building permits, SEMI book-to-bill ratio, TAIEX average closing price, and net accession rate of employees on payrolls of industry and services had negative cyclical movements.
3. Coincident Indicators: With revised data, the trend-adjusted coincident index stood at 101.68, up by 0.08% from November 2014. Among the seven indicators making up the trend-adjusted index, real machineries electrical equipments imports, the industrial production index, sales of trade and food services, and nonagricultural employment had positive cyclical movements from the previous month, while electric power consumption, real customs-cleared exports, and the index of producer’s shipment for manufacturing had negative cyclical movements.
4. Lagging Indicators: With revised data, the trend-adjusted lagging index stood at 99.19, up by 0.03% from November 2014. Among the six indicators making up the trend-adjusted index, the inventories to sales ratio for manufacturing, the unemployment rate (inverted), and regular employees on payrolls in industry and services had positive cyclical movements from the previous month, while the manufacturing unit output labor cost index, loans and investments of monetary financial institutions, and the interbank overnight call-loan rate had negative cyclical movements.
~~ The next release is scheduled for March 5 2015 ~~