Taiwan's economy showed signs of growth with the index of leading indicators for last month rising to 146.6 points, up 0.3 percent from June, the government said yesterday.
In June, the index of leading indicators posted a 0.4 percent month-on-month increase, the Council for Economic Planning and Development (CEPD) said.
The index is used as a gauge for the economy's direction in the coming three months.
Last month's index of coincident indicators, which coincides with the current pace of economic activity, rose 1.0 percent month-on-month to 150.0 points after also posting a 1.0 percent rise in June, it said.
UP 25 POINTS
The total score of monitoring indicators for last month was 29 points, up from 25 points in June, the council said.
The June monitoring indicators showed a second consecutive "green light," which signaled steady growth, reversing the "yellow-blue light" of the previous two months that symbolized a slowdown, the council said.
The council uses a five-level system to gauge domestic economic health, with blue indicating recession, yellow-blue a slowdown, green steady growth, yellow-red slight overheating and red severe overheating.
The council said that it has revamped its calculations of all three measures of the nation's economic development based on methods adopted by the Organization for Economic Cooperation and Development.
The changes took effect last month, the council said.
Previous data for both the index of leading indicators and the index of coincident indicators were accordingly readjusted retroactive to 1982.
However, no retroactive adjustment was made for the monitoring indicators.
Four of the seven leading indicators for last month made positive contributions, including the export orders index, the weighted index of the stock market, overtime hours in the industrial and service sectors and housing start approvals in terms of area.
The three negative factors were M1B money supply, the manufacturing sector's inventory index and the book-to-bill ratio compiled by Semiconductor Equipment and Materials International, the council said.