TAIPEI (Taiwan News) — Taiwan’s economy flashed a red light for the first time in 10 years last month, reaching its highest level of growth in 31 years, the government’s National Development Council (NDC) announced Friday (March 26).
The island country uses five colors to denote the state of its economy, ranging from red for "overheating" to blue for a recession. For January, the indicator stood at yellow-red, a sign that the economy was heating up.
Among the nine factors determining the score, industrial production, imports of machinery and electronic equipment, and manufacturing sales all intensified from yellow-red to red, CNA reported. All six other sectors remained the same in February.
Expressed in points, the economic index rose from 37 to 40 points, a level not reached since April 1989, according to the NDC. The latest improvement in Taiwan’s economic indicators followed similar trends for manufacturing and overall GDP growth reported over the past few months.