Sat, Dec 27, 2003 - Page 10 News List

Taiwan's economy continues to pick up steam: council

AFP , TAIPEI

Taiwan's economy continued to gain steam in November with economic indicators flashing a "green light" steady growth rate for a fifth consecutive month, official data showed yesterday.

The index of leading indicators last month came in at 103.9 points, up 0.1 percent from October when it rose a revised 1.8 percent month-on-month, the Council for Economic Planning and Development (CEPD) said.

Last month's index of coincident indicators stood at 104.9 points, down 0.3 percent from October, when it rose a revised 0.7 percent, it said.

The total score of monitoring indicators fell to 29 points last month from 31 in October, with both figures signaling a "green light" level pointing to steady economic growth, it said.

Given the index of leading indicators rising for the fifth consecutive month, the CEPD said it expects the economy to continue expanding on the back of an ongoing global recovery that has fostered robust orders for the nation's outbound export shipments.

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