Taiwan's economy flashes green signal in December
The China Post news staffTAIPEI, Taiwan -- After 16 months of sluggishness, Taiwan's economy last month finally shone a green signal representing stability, reported the Council for Economic Planning and Development (CEPD) yesterday.
January 29, 2013, 11:59 am TWN
The agency uses a five-signal system to denote Taiwan's economy. The five signals are red, yellow-red, green, yellow-blue and blue, which represent an economy that is, respectively, overheating, robust, stable, sluggish and contracting.
Taiwan received an overall economic score of 23 for December, which is in the green signal range, CEPD said.
According to the agency, in December banking, manufacturing and consumption remained robust. The labor market was stable, while trade showed signs of improvement.
The 23 score was an increase from 21 for November. Of the nine categories that make up the score, two increased, lifting the overall score by two points. The two were exports and machinery/electronic imports, both seeing their signals changing from blue to yellow-blue.
In December, exports increased by 3.6 percent compared to the same period last year, due to a recovery in the global economy. Machinery imports declined by 2.1 percent year-on-year, narrowing from the 7.3 percent for November.
Flat growth was seen for the remaining seven categories, namely the M1B monetary supply, direct and indirect financial activities, stocks, industrial output, employment in the nonagricultural sector, sales by manufacturers, and sales in the service sector.
The economic leading indicator stood at 134.7 in December, a rise of 0.9 percent from November, CEPD said, adding the six-month annualized variation rate of the indicator was 6.8 percent, a rise of 0.9 percent from 5.9 percent for November. Overall, the figure had risen five months in a row.
The coincident indicator stood at 132.2 in December, a decline of 0.1 percent month-on-month.