Taiwan Business Indicators in November 2008
Press Release
Council for Economic Planning and Development
December 26, 2008
In November 2008, Taiwan’s business cyclical indicators suggest further weakening in economic conditions going forward. Among the indicators compiled by the Cabinet’s Council for Economic Planning and Development (CEPD), the leading index decreased 0.5 point, the trend-adjusted coincident index decreased 6.0% from the previous month and the overall monitoring indicator flashed the "blue" signal for the third consecutive month.
1. Leading Indicators: The composite leading index stood at 100.3, down by 0.8% from October. Its annualized six-month rate of change decreased by 0.5 point to -9.4%. The decreasing leading index largely came from the negative cyclical movements in index of export orders, stock price index, and average monthly overtime in industry and services.
(Note: components marked with an asterisk indicate real terms)
2. Coincident Indicators: The coincident index stood at 92.1, down by 5.8% from October. Its trend-adjusted index decreased by 6.0% to 83.3, with sliding for ninth 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*.
3. The Monitoring Indicators: The total score in November was down by 1 point to 11, flashing the "blue" signal for the third consecutive month. Among the nine components, nonagricultural employment lost one point and changed the light signal from " green " to " yellow-blue ".The light signals for money supply M1B, direct and indirect finance, stock price index, industrial production index, customs-cleared exports, imports of machineries, electrical equipments, manufacturing sales and sales index of wholesale, retail and food services remained unchanged.
T~~ The next release is scheduled for February 3, 2009 ~~T