Taiwan’s economic indicator flashed green for the 10th consecutive month in November, underscoring the sound fundamentals and health of the national economy, according to the National Development Council Dec. 26.
“This marks the longest green streak since May 2006,” an NDC official said. “Overall, it shows that Taiwan’s economy remains on a modest growth track.”
The composite score for the monitoring indicator gained one point to 25, with the leading indicator continuing a downward trend for nine months and capping the accumulated fall at 1 percent. At the same time, the coincident indicator rose for 15 months in a row.
Among the indicator’s nine components, customs-cleared exports and imports of machinery and equipment both gained one point, with the signals switching from yellow-blue to green and green to yellow-red, respectively. But industrial output lost one point and changed signal from yellow-red to green.
Indicators for monetary aggregates M1B, producers’ shipments for manufacturing and TAIEX average closing price continued green. The manufacturing composite indicator, nonagricultural employment and sales of trade and food services remained yellow-blue.
The official said the NDC is cautiously optimistic about the outlook on the strength of a better global economy projected for next year and ongoing investment by the local semiconductor sector.
“An improving job market and the upcoming Lunar New Year holiday will also spur consumer consumptions and inject new momentum into the local economy,” the official said, adding that weak oil prices may also boost consumption. (SFC-JSM)
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