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Key economic indicator remains positive in June (update)
Central News Agency
2014-07-28 10:27 PM
Taipei, July 28 (CNA) Taiwan's economy continued its momentum in June with a government indicator of business activity flashing a green light for the fifth consecutive month, signaling steady growth, the National Development Council said Monday. The streak is the longest since the light flashed green for five consecutive months from March to July 2011, the council said. The score of the nine monitoring indicators that comprise the composite index increased to 26 in June, two points above the May figure. April was even higher at 29, the highest since May 2011, according to the report. However, the June composite leading index, an indicator of the outlook for the coming one to two quarters, stood at 104.52, a decrease of 0.03 percent from the previous month and the second consecutive monthly decline. The trend-adjusted leading index slid by 0.19 percent to 100.11 points, marking the fourth consecutive monthly drop. The council expected Taiwan's economic outlook to remain stable despite the drop, saying that the island's economy is "definitely on the track of recovery." The coincident index, which reflects current conditions, rose by 0.38 percent to 105.69 from the previous month. Adjusted for trends, it increased by 0.22 percent to 101.23, the 14th consecutive monthly increase. The council uses a five-color system to gauge economic health, with red signaling overheating, yellow-red showing slight overheating, green indicating steady growth, yellow-blue signaling a slowdown and blue indicating recession. (By James Lee)
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