Taiwan's leading economic indicator index rose in October, reversing the revised 1.4 percent month-on-month decline in September, the Council for Economic Planning and Development said yesterday.
The index of leading indicators -- which gauges economic activity for the next three to six months -- rose 2.5 percent month-on-month to 95 points in October, the council said.
The council originally reported September's decline was just 0.9 percent.
The improved business outlook was due to an upswing in economic activity in October, after September's delays due to the terrorist attacks in the US, the council said.
Asked whether the figures signal an economic recovery in Taiwan, Hu Chung-ying (
The coincident indicator -- which measures current economic activity -- also rose 2.7 percent in October, compared to a revised 3.2 percent decline in September, the council said.
Together with both leading and coincident indicators, the council said the composite index posted its eleventh consecutive blue signal in October, which indicates recession in the five-color rating system used by the council to measure domestic economic performance.
Of the seven leading indicators, five were higher in October than they were a month earlier, the council said. These were M1B money supply, stock prices, customs-compiled exports in value, housing start applications and average monthly working hours in the manufacturing sector, it said.
Orders for manufacturers and wholesale prices fell month-on-month, the council said.
A recent poll showed that 14 percent of manufacturers surveyed said they expect the economy to turn better over the next three months, while 55 percent said the situation will remain unchanged with 31 percent saying the economy will worsen.
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