Taiwan Business Indicators in February 2010
Press Release
Council for Economic Planning and Development
March 26, 2010
In February 2010, Taiwan Business Indicators indicated that economy has been picking up steadily. 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 2.8 points, the trend-adjusted coincident index rose by 1.3% from the previous month, and the overall monitoring indicator flashed the "red" signal for the second consecutive month.
1. Leading Indicators: With revised data, the composite leading index stood at 106.9, up by 0.6% from January. Its annualized six-month rate of change declined by 2.8 points to 18.7%. Among the seven indicators making up the trend-adjusted index, average monthly overtime in industry and services, the index of export orders, index of producer's inventory for manufacturing, and building permits had positive cyclical movements from previous month. Real monetary aggregates M1B, stock price index, and SEMI book-to-bill ratio had negative cyclical movement from previous month.
2. Coincident Indicators: With revised data, the coincident index stood at 105.4, up by 1.1% from January. Its trend-adjusted index rose by 1.3% to 107.2. Among the seven indicators making up the trend-adjusted index, industrial production index, real customs cleared exports, real machineries and electrical equipments imports, electric power consumption, and the index of producer’s shipment for manufacturing had positive cyclical movements from previous month. Nonagricultural employment stood at the same level as previous month. Sales index of wholesale, retail, and food services, had negative cyclical movement from previous month.
3. The Monitoring Indicators: The total score in January was adjusted upward by one point to 38, following the revision of sales index of wholesale, retail and food services, and changed the overall light signal from "yellow-red" to "red". February's total score remained at 38, flashing the "red" signal for the second consecutive month. Among the components, nonagricultural employment gained one point and changed its individual light signal from "yellow-blue" to "green", sales index of wholesale, retail and food services lost one point and changed its individual light signal from "red" to "yellow-red". The light signals for the rest of seven components remained unchanged.
~~ The next release is scheduled for April 27, 2010 ~~