Taiwan Business Indicators in August 2010
Council for Economic Planning and Development
September 27, 2010
In August 2010, Taiwan Business Indicators indicated that the economy continued its steady growth. 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 2.6 points, the trend-adjusted coincident index rose by 0.2% from the previous month, and the overall monitoring indicator flashed the "red" signal.
1. Leading Indicators: With revised data, the composite leading index stood at 117.7, down by 0.3% from July. Its annualized six-month rate of change declined by 2.6 points to 4.1%, decreasing for the ninth consecutive month. All seven indicators making up the trend-adjusted index had negative cyclical movements from previous month, which is index of producer's inventory for manufacturing, index of export orders, SEMI book-to-bill ratio, average monthly overtime in industry and services, building permits, real monetary aggregates M1B, and stock price index.
2. Coincident Indicators: With revised data, the coincident index stood at 124.2, up by 0.8% from July. Its trend-adjusted index rose by 0.2% to 108.5, increasing for the eighteenth consecutive month. Among the seven indicators making up the trend-adjusted index, the nonagricultural employment, sales index of wholesale, retail, and food services, real customs-cleared exports, and real imports of machineries and electrical equipments, had positive cyclical movements from previous month. The industrial production index, index of producer’s shipment for manufacturing, and electric power consumption had negative cyclical movements from previous month.
3. Lagging Indicators: With revised data, the lagging index stood at 122.1, up by 2.6% from July. Its trend-adjusted index rose by 2.0% to 106.7, increasing for the eleventh consecutive month. All the six indicators making up the trend-adjusted index had positive cyclical movements from previous month.
4. The Monitoring Indicators: The total score recorded 38 in August, the same level of previous month. The overall light signal flashed the "red" signal for the second consecutive month. The light signals for all the nine components remained unchanged.
~~ The next release is scheduled for October 27, 2010 ~~