Taiwan's economy slowed in December with the index of leading indicators standing at 107.8 points, down 1.1 percent from November and putting the country in recession territory, the government said yesterday.
In November, the index had registered a 0.1 percent month-on-month fall, the Council for Economic Planning and Development said.
The index is used as a gauge for the economy's direction in coming three months.
The December index of coincident indicators, which coincides with the current pace of economic activity, fell 0.4 percent month-on-month to 109.1 points, after posting a revised 0.2 percent decrease in November, it said. Both indices for leading and coincident indicators are based on a 2001 benchmark of 100.
The total score of monitored indicators for December was 16 points, compared with 21 points in November.
The December monitoring indicators showed a "blue light," which reflects a recession, after six consecutive months of a "yellow-blue light," which signaled a slowdown. The CEPD uses a five-level spectrum to gauge domestic economic health, with blue indicating recession, yellow-blue a slowdown, green steady growth, yellow-red a slight overheating and red an absolute overheating.