Taipei--Taiwan's economy flashed a green light in January, signaling stable growth for the seventh consecutive month, the National Development Council (NDC) said Friday.
The composite monitoring indicator for January rose 1 point from a month earlier to 29, the highest since August 2014, the council said.
The NDC uses a five-color system to gauge the country's economic situation, with blue indicating economic recession, yellow-blue representing economic sluggishness, green denoting stable growth, yellow-red referring to a warming economy, and red pointing to economic overheating. A green light flashes when the indicator is between 23 and 31 points.
Of the nine components of the index, three increased and three decreased in January, with the other three remaining unchanged, the NDC said.
Those that rose were the stock market, the index of manufacturers' shipments and the manufacturing composite indicator compiled by the Taiwan Institute of Economic Research, according to the NDC.
The three that dropped were the M1B money supply, imports of machinery and electrical equipment, and the industrial production index, the council said.
The three that remained unchanged were the non-agricultural employment, customs-cleared exports, and sales of trade and food services, the NDC said.
It said the leading index for January stood at 101.76, up 0.37 percent from a month earlier, marking the 11th consecutive month of increase.
Meanwhile, the coincident index rose 0.93 percent from a month earlier to 105.40, also representing an 11th-straight-month increase, the NDC said.
Wu Ming-hui (???), head of the NDC's department of economic development, predicted that the economy will continue to improve as the global economic recovery gives a boost to the country's export momentum.
Source: Focus Taiwan News Channel