Press Release
National Development Council (NDC)
May 26, 2017
In April 2017, the overall monitoring indicator flashed from “green” to the “yellow-blue" signal. The total score decreased by three points to 21. The trend-adjusted leading and coincident index decreased from the previous month. The government will be closely monitoring the economic situation.
- The Monitoring Indicators: The total score in April 2017 decreased by three points to 21, flashing the “yellow-blue” signal for the first month. Among the nine components, the custorms-cleared exports and the TIER manufacturing sector composite indicator each lost one point to change its individual light from “green” to “yellow-blue”, while the imports of machineries and electrical equipments lost one point to change its individual light from “yellow-red ” to “green”. The light signal for the rest of six components remained unchanged.
- Leading Indicators: With revised data, the trend-adjusted leading index stood at 100.52, down by 0.50% from March 2017. Among the seven indicators making up the trend-adjusted index, building permits, and TAIEX average closing price had positive cyclical movements from the previous month, while the index of export orders, real imports of semiconductor equipment, the TIER manufacturing sector composite indicator, real monetary aggregates M1B, and net accession rate of employees on payrolls of industry and services had negative cyclical movements.
- Coincident Indicators: With revised data, the trend-adjusted coincident index stood at 100.21, down by 1.00% from March 2017. Among seven indicators making up the trend-adjusted index, nonagricultural employment had positive cyclical movement, while the index of producer’s shipment for manufacturing, real machineries and electrical equipments imports, real customs-cleared exports, the industrial production index, sales of trade and food services, and electric power consumption had negative cyclical movements.
- Lagging Indicators: With revised data, the trend-adjusted lagging index stood at 101.31, up by 0.96% from March 2017. All six indicators making up the trend-adjusted index had positive cyclical movements, which were the inventories to sales ratio for manufacturing, the manufacturing unit output labor cost index, the unemployment rate (inverted), regular employees on payrolls in industry and services, loans and investments of monetary financial institutions, and the interbank overnight call-loan rate.
~~ Next publication date: June 27 2017 ~~