Taipei-Taiwan's economic conditions remained sluggish for an eighth consecutive month in August amid the ongoing trade dispute between the United States and China, the National Development Council (NDC) said Friday.
The country's leading indicators, which predict economic performance over the next three to six months, also moved lower in August, providing further evidence of a cautious outlook for Taiwan's economy because of unfavorable external factors, the NDC said.
The composite index of monitoring indicators for August fell to 20 points from the revised score of 22 in July, representing a "yellow-blue light," according to data compiled by the NDC, Taiwan's top economic planning agency.
The economic leading indicators for August fell 0.05 from a month earlier to 101.67, marking the second consecutive month they fell after the NDC revised the July figure downward.
Prior to July, the leading indicators index had risen sixth months in a row.
The NDC uses a five-color system to gauge the country's economic performance, with blue indicating economic recession, yellow-blue representing sluggishness, green signifying stable growth, yellow-red referring to a warming economy and red pointing to overheating.
Source: Focus Taiwan News Channel