National Development Council

Taiwan Business Indicators in November 2015

Press Release

National Development Council (NDC)

December 28, 2015

In November 2015, Taiwan Business Indicators indicated that Taiwan economy has shown clear signs of ending downward trend. Among the indicators compiled by the National Development Council (NDC), the trend-adjusted leading index decreased by 0.07%, the trend-adjusted coincident index increased by 0.03% from the previous month, and the overall monitoring indicator flashed the " blue" signal.

1. The Monitoring Indicators: The total score recorded 15 in November, the same level of previous month, flashing the “blue” signal for the sixth month. The light signal for all the nine components remained unchanged.
2. Leading Indicators: With revised data, the trend-adjusted leading index stood at 98.21, down by 0.07% from October 2015. 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 SEMI book-to-bill ratio, TAIEX average closing price, building permits, net accession rate of employees on payrolls of industry and services, and the TIER manufacturing sector composite indicator had negative cyclical movements.
3. Coincident Indicators: With revised data, the trend-adjusted coincident index stood at 98.31, up by 0.03% from October 2015. Among the seven indicators making up the trend-adjusted index, real machineries and electrical equipments imports, sales of trade and food services, electric power consumption, and the index of producer’s shipment for manufacturing had positive cyclical movements from the previous month, while the industrial production index, real customs-cleared exports, and nonagricultural employment had negative cyclical movements.
4. Lagging Indicators: With revised data, the trend-adjusted lagging index stood at 99.93, down by 0.37% from October 2015. Among the six indicators making up the trend-adjusted index, the manufacturing unit output labor cost index, and loans and investments of monetary financial institutions had positive cyclical movements from the previous month, while the inventories to sales ratio for manufacturing, the unemployment rate (inverted), regular employees on payrolls in industry and services, and the interbank overnight call-loan rate had negative cyclical movement.

~~ The next release is scheduled for January 27 2016 ~~