Taiwan Business Indicators in March 2009
Press Release
Council for Economic Planning and Development
April 27, 2009
In March 2009, although Taiwan’s business cyclical indicators still showed a slowdown in economic conditions, the pace of decline in most components moderated. 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 rose 4.6 point, the trend-adjusted coincident index also rose modestly by 0.7% from the previous month, and the overall monitoring indicator flashed the "blue" signal for the seventh consecutive month.
1. Leading Indicators: The composite leading index stood at 88.9, up by 1.5% from February. Its annualized six-month rate of change rose by 4.6 point to -13.8%. The increasing leading index mainly came from the positive cyclical movements in SEMI book-to-bill ratio, index of export orders, real monetary aggregates M1B*, stock price index, and index of producer’s inventory.
(Note: components marked with an asterisk indicate real terms)
2. Coincident Indicators: With revised data, the coincident index stood at 80.3, up by 0.7% from February. Its trend-adjusted index rose modestly by 0.7% to 78.6. The increasing coincident index largely came from the positive cyclical movements in industrial production index, sales index of wholesale, retail, and food services, real manufacturing sales*, and real customs-cleared exports*.
3. The Monitoring Indicators: The total score recorded 10 in March, remaining at the same level of February. The overall light signal was flashing the "blue" signal for the seventh consecutive month. The light signals for all the nine components remained unchanged.
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5. T~~ The next release is scheduled for May 27, 2009 ~~T