Press Release
National Development Council (NDC)
July 28, 2014
In June 2014, the Taiwan Business Indicators showed that the domestic economy continued its steady growth. Among the indicators compiled by the National Development Council (NDC), the trend-adjusted leading index decreased by 0.19%, the trend-adjusted coincident index increased by 0.22% from the previous month, and the overall monitoring indicator flashed the "green" signal for the fifth consecutive month.
1. Leading Indicators: With revised data, the composite leading index stood at 104.52, down by 0.03% from May 2014. Its trend-adjusted index decreased by 0.19% to 100.11. Among the seven indicators making up the trend-adjusted index, TAIEX average closing price, the TIER manufacturing sector composite indicator, SEMI book-to-bill ratio, and the index of export orders had positive cyclical movements from the previous month, while building permits, net accession rate of employees on payrolls of industry and services, and real monetary aggregates M1B had negative cyclical movements.
2. Coincident Indicators: With revised data, the coincident index stood at 105.69, up by 0.38% from May 2014. Its trend-adjusted index increased by 0.22% to 101.23. Among the seven indicators making up the trend-adjusted index, the industrial production index, the index of producer’s shipment for manufacturing, real customs-cleared exports, and sales of trade and food services had positive cyclical movements from the previous month, while nonagricultural employment, electric power consumption, and real machineries and electrical equipments imports had negative cyclical movements.
3. Lagging Indicators: With revised data, the lagging index stood at 102.02, down by 0.11% from May 2014. Its trend-adjusted index decreased by 0.27% to 97.72. Among the six indicators making up the trend-adjusted index, 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, the inventories to sales ratio for manufacturing, loans and investments of monetary financial institutions, and the interbank overnight call-loan rate had negative cyclical movements.
4. The Monitoring Indicators: The total score in June 2014 increased by two points to 26, flashing the “green” signal for the fifth month. Among the nine components, the TAIEX average closing price gained one point to change its individual light signal form “green” to “yellow-red”, and the imports of machineries and electrical equipments gained one point to change its individual light signal form “yellow-blue” to “green”. The light signal for the rest of seven components remained unchanged.
~~ The next release is scheduled for August 27 2014 ~~