Taiwan Business Indicators in July 2013
Press Release
Council for Economic Planning and Development, Executive Yuan
August 27, 2013
In July 2013, the Taiwan Business Indicators showed the economic recovery to remain on the slower track. Among the indicators compiled by the Cabinet’s Council for Economic Planning and Development (CEPD), the trend-adjusted leading index decreased by 0.13%, the trend-adjusted coincident index increased by 0.01% from the previous month, and the overall monitoring indicator flashed the "yellow-blue" signal.
1. Leading Indicators: With revised data, the composite leading index stood at 102.85, up by 0.03% from June 2013. Its trend-adjusted index decreased by 0.13% to 100.22. Among the seven indicators making up the trend-adjusted index, real monetary aggregates M1B, the stock price index, and the TIER manufacturing sector composite indicator had positive cyclical movements from the previous month, while the index of export orders, net accession rate of employees on payrolls of industry and services, SEMI book-to-bill ratio, and building permits had negative cyclical movements.
2. Coincident Indicators: With revised data, the coincident index stood at 101.47, up by 0.16% from June 2013. Its trend-adjusted index increased by 0.01% to 98.87. Among the seven indicators making up the trend-adjusted index, electric power consumption, real machineries and electrical equipments imports, and the index of producer’s shipment for manufacturing had positive cyclical movements from the previous month, while nonagricultural employment, sales of trade and food services, real customs-cleared exports, and the industrial production index had negative cyclical movements.
3. Lagging Indicators: With revised data, the lagging index stood at 101.89, down by 0.24% from June 2013. Its trend-adjusted index decreased by 0.39% to 99.29. Among the six indicators making up the trend-adjusted index, the manufacturing unit output labor cost index had positive cyclical movement from the previous month, while the inventories to sales ratio for manufacturing, the unemployment rate (inverted), regular employees on payrolls in industry and services, the interbank overnight call-loan rate, and loans and investments of monetary financial institutions had negative cyclical movements.
4. The Monitoring Indicators: The total score in July dropped by three points to 20, changing the overall light signal from “green” to “yellow-blue”.
~~ The next release is scheduled for September 27 2013 ~~