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Taiwan Business Indicators in October 2012

Taiwan Business Indicators in October 2012
Press Release
Council for Economic Planning and Development
November 27, 2012
In October 2012, Taiwan Business Indicators showed the domestic economy was moving away 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 decreased by 0.37 points, the trend-adjusted coincident index increased by 0.2% 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 131.4, up by 0.2% from September 2012. Its annualized six-month rate of change decreased by 0.37 points to 3.0%. Among the seven indicators making up the trend-adjusted index, index of producer's inventory for manufacturing (inverted), index of export orders, and stock price index had positive cyclical movements from previous month. SEMI book-to-bill ratio, real monetary aggregates M1B, average monthly overtime in industry and services, and building permits had negative cyclical movements from previous month.
2. Coincident Indicators: With revised data, the coincident index stood at 133.3, up by 0.6% from September 2012. Its trend-adjusted index increased by 0.2% to 98.2. Among the seven indicators making up the trend-adjusted index, real customs-cleared exports, index of producer’s shipment for manufacturing, the sales index of wholesale, retail and food services, and industrial production index had positive cyclical movements from previous month. Real machineries and electrical equipments imports, nonagricultural employment, and electric power consumption had negative cyclical movements from previous month.
3. Lagging Indicators: With revised data, the lagging index stood at 135.6, down by 0.2% from September 2012. Its trend-adjusted index decreased by 0.6% to 99.9. Among the six indicators making up the trend-adjusted index, loans and investments of monetary financial institutions had positive cyclical movement from previous month. Unemployment rate (inverted), inventories to sales ratio for manufacturing, regular employees on payrolls in industry and services, interbank overnight call-loan rate, the manufacturing unit output labor cost index had negative cyclical movements from previous month.
4. The Monitoring Indicators: The total score in September was adjusted downward by two points to 20, following the revision of manufacturing sales and the sales index of wholesale, retail and food services. The total score in October was down by 2 points to 18, flashing the "yellow-blue" signal for the second consecutive month. Among the nine components, customs-cleared exports lost three points and changed its individual light signal from "yellow-red" to "blue". The sales index of wholesale, retail and food services gained one point and changed its individual light signal from "blue" to "yellow-blue". The light signals for the rest of seven components remained unchanged.
~~ The next release is scheduled for December 27 2012 ~~


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    1. Taiwan Business Indicators in October 2012
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