The economy showed steady growth last month despite a slowdown, the Council for Economic Planning and Development (CEPD) said yesterday.
The index of leading indicators last month stood at 107.2 points, down 2.3 percent from February, the council said. The total score of monitoring indicators for last month came in at 23 points, down from 28 points in the preceding month, and signaled a "green light," which indicates steady growth.
The green-light showing for last month marked the eighth in a row since last August, reversing five consecutive months of "yellow-blue light," which signaled a slowdown in the economy.
"Due to a slowdown in exports, orders and other productivities, there was a slowdown in the growth of economy ... although it remained to signal a `green light,'" the council said in a statement.
The main index -- seven indicators including wholesale prices and export orders -- are designed to measure economic activity three months ahead. The council uses a five-level spectrum to gauge domestic economic health, with blue indicating recession, yellow-blue a slowdown, green steady growth, yellow-red a slight overheating and red an absolute overheating.
Last month's index of coincident indicators, which coincides with the current pace of economic activity, fell 1.1 percent month-on-month to 113 points, and compares with a 0.5 percent decline in February, it said.
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