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Taiwan Business Indicators in November 2012

Taiwan Business Indicators in November 2012
Press Release
Council for Economic Planning and Development
December 27, 2012
In November 2012, Taiwan Business Indicators showed the domestic economy was departing from slowdown, but economic activity was still weak. Among the indicators compiled by the Cabinet’s Council for Economic Planning and Development (CEPD), the annualized six-month rate of change of leading index increased by 0.6 points, 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 133.7, up by 0.8% from October 2012. Its annualized six-month rate of change increased by 0.6 points to 5.8%. Among the seven indicators making up the trend-adjusted index, index of export orders, index of producer's inventory for manufacturing (inverted), building permits, average monthly overtime in industry and services had positive cyclical movements from previous month. SEMI book-to-bill ratio, real monetary aggregates M1B, and stock price index had negative cyclical movements from previous month.
2. Coincident Indicators: With revised data, the coincident index stood at 133.4, up by 0.4% from October 2012. Its trend-adjusted index increased by 0.01% to 98.2. Among the seven indicators making up the trend-adjusted index, the sales index of wholesale, retail and food services, real customs-cleared exports, index of producer’s shipment for manufacturing, and industrial production index had positive cyclical movements from previous month. Real machineries and electrical equipments imports, electric power consumption, and nonagricultural employment had negative cyclical movements from previous month.
3. Lagging Indicators: With revised data, the lagging index stood at 135.2, down by 0.1% from October 2012. Its trend-adjusted index decreased by 0.6% to 99.5. Among the six indicators making up the trend-adjusted index, loans and investments of monetary financial institutions had positive cyclical movement from previous month. Inventories to sales ratio for manufacturing, unemployment rate (inverted), regular employees on payrolls in industry and services, the manufacturing unit output labor cost index, and interbank overnight call-loan rate had negative cyclical movements from previous month.
4. The Monitoring Indicators: The total score in October was adjusted upward by one point to 19, following the revision of the sales index of wholesale, retail and food services. The total score in November increased 1 point to 20, flashing the "yellow-blue" signal for the third consecutive month. Among the nine components, manufacturing sales gained one point and changed its individual light signal from "blue" to "yellow-blue". The light signals for the rest of eight components remained unchanged.
~~ The next release is scheduled for January 28 2013 ~~


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