Alexa
  • Directory of Taiwan

Economy shows first sign of growth in 9 months

Economy shows first sign of growth in 9 months

The monitoring indicators for Taiwan's economic climate flashed a green light for March, signalling steady growth, according to a report released Friday by the Council for Economic Development and Planning.
The total monitoring score gained four points from 19 in February to 23 in March, with the indicators turning from yellow-blue that indicated a slowdown in February, CEPD officials said.
The change marked the first green light for the last nine months since May 2006, the official said.
Among the nine component indicators, three showed improvement, namely bank clearings and remittances, exports and industrial production, they said.
Positive contributions
The composite index of leading indicators - a barometer for the economy's outlook in the coming three months - stood at 109.4 in March, up 0.9 percent from the month-earlier level, they said.
Among the seven indicators comprising the composite index, six made positive contributions, including new orders for the manufacturing sector, customs-cleared exports, money supply M1B, wholesale price change from six months earlier, average work hours in the manufacturing sector and stock prices, according to the CEPD.
The index of coincident indicators, which represents the current economic situation, registered 110.2 in March, up 1.1 percent from February, the officials said.
Expectations
Among the six indicators making up the index, five of them made positive contributions, they included bank clearings, manufacturing production, industrial production, manufacturing sales and average monthly earnings of manufacturing workers, they said.
Meanwhile, a CEPD survey of manufacturers in March indicated that 14 percent of the respondents expected conditions to improve over the next three months, down from 29 percent in a February survey.
A total of 13 percent of the respondents predicted that conditions will be worse, up from 8 percent in the previous month, while 73 percent said they think conditions will remain the same, up from 63 percent in February.


Updated : 2021-06-16 07:30 GMT+08:00