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Business indicators back to 'green' in Feb., with boost by industrial sector

TAIPEI, Taiwan -- The National Development Council (NDC) on Thursday said Taiwan's Business Indicators in February returned to flash a “green” signal, showing that Taiwan's economy continued to warm up at the start of the year.

Among the indicators compiled by the NDC, the trend-adjusted coincident index increased by 0.30 percent from the previous month, and the total score of the Monitoring Indicators in February increased by three points to 25, flashing the “green” signal.

Among the nine components of the Monitoring Indicators, the industrial production index and the customs-cleared exports changed their individual light signals from “yellow-blue” to “green,” each gaining one point, and the index of producer's shipments for manufacturing gained two points to change its individual light signal from “blue” to “green,” while the imports of machineries and electrical equipment lost one point to change its individual light signal form “green” to “yellow-blue.” The light signal for the remaining five components remained unchanged.

The composite leading index stood at 104.53, up by 0.31 percent from January 2014. Among the seven indicators making up the trend-adjusted index, net accession rate of employees on payrolls of industry and services, the Taiwan Institute of Economic Research (TIER) manufacturing sector composite indicator, building permits, Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) average closing price, and real monetary aggregates M1B had positive cyclical movements from the previous month, while the index of export orders and Semiconductor Equipment and Materials Institute (SEMI) book-to-bill ratio had negative cyclical movements.

The coincident index stood at 104.17, up by 0.43 percent from January 2014. Among the seven indicators making up the trend-adjusted index, the index of producer's shipments for manufacturing, electric power consumption, the industrial production index, sales of trade and food services, real customs-cleared exports, and nonagricultural employment had positive cyclical movements from the previous month, while real machineries and electrical equipment imports had negative cyclical movements.

The lagging index stood at 100, down by 0.42 percent from January 2014. Among the six indicators making up the trend-adjusted index, the unemployment rate had positive cyclical movement from the previous month, while the manufacturing unit output labor cost index, the inventories to sales ratio for manufacturing, loans and investments of monetary financial institutions, regular employees on payrolls in industry and services, and the interbank overnight call-loan rate had negative cyclical movements.

According to NDC's statement, the next release is scheduled for April 28.

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