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Monitoring indicators show steady economic growth in Taiwan
Central News Agency
2014-05-27 07:25 PM
Taipei, May 27 (CNA) Taiwan's economy continued to improve in April, with a government indicator of business activity flashing a green light for the third consecutive month, signaling steady growth, the National Development Council said Tuesday. The score of the nine composite monitoring indicators that determine the overall outlook increased by four points to 29 last month, the highest since May 2011, the council said in a statement that described the recovery as distinct. It is the longest period of time the light has remained green since 2011, when it flashed for five consecutive months from March to July, the council noted. The composite leading index stood at 104.9, up by 0.31 percent from March, and its trend-adjusted index increased by 0.18 percent to 101.31 points, representing growth for 20 consecutive months. Meanwhile, the coincident index rose by 0.38 percent to 104.65 from the previous month, while the trend-adjusted index increased by 0.25 percent to 101.07, marking growth for nine consecutive months. Council Deputy Minister Chen Chien-liang said the growth was gradual because among the nine components of the monitoring indicators, the industrial production index, the customs-cleared exports and sales of trade and food services all gained one point each to change their individual signals from yellow-blue to green. Thanks to that, the recovery was relatively distinct and the economy was inclined toward steady growth, Chen went on, expressing his "cautious optimism" toward future economic conditions. The council uses a five-color system to gauge economic health, with red signaling overheating, yellow-red for slight overheating, green for steady growth, yellow-blue for a slowdown and blue for recession. (By Huang Chiao-wen and Elizabeth Hsu)
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