Taiwan Business Indicators in December 2008
Press Release
Council for Economic Planning and Development
February 3, 2009
In December 2008, Taiwan’s business cyclical indicators showed a continued slowdown in economic conditions. 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 2.0 point, the trend-adjusted coincident index decreased 8.4% from the previous month and the overall monitoring indicator flashed the "blue" signal for the forth consecutive month.
1. Leading Indicators: The composite leading index stood at 93.0, down by 2.3% from November. Its annualized six-month rate of change decreased by 2.0 point to -17.2%, with sliding for the fourteenth consecutive month. All leading indicators contributed negatively to the index, led by large decline in index of export order, average monthly overtime in industry and services, building permits, and SEMI book-to-bill ratio.
2. Coincident Indicators: The coincident index stood at 81.6, down by 8.2% from November. Its trend-adjusted index decreased by 8.4 % to 75.4, with sliding for the tenth consecutive month. All coincident indicators contributed negatively to the index, led by large decline in industrial production index, electric power consumption, real manufacturing sales*, and real customs-cleared exports*.
(Note: components marked with an asterisk indicate real terms)
3. The Monitoring Indicators: The total score in December was down by 2 points to 9, flashing the "blue" signal for the forth consecutive month. Among the nine components, direct and indirect finance, nonagricultural employment each lost one point, and changed the light signal from "yellow-blue" to "blue". The light signals for monetary aggregates M1B*, stock prices index, industrial production index, customs-cleared exports, imports of machineries and electrical equipments, manufacturing sales and sales index of wholesale, retail and food services remained unchanged.
T~~ The next release is scheduled for February 27, 2009 ~~T