The composite index of leading economic indicators -- a key gauge of economic activity in the next six months -- was unchanged in September after a drop in the previous month, the government said yesterday.
The index in August fell 0.6 percent, the Council for Economic Planning and Development said.
Four of the index's seven components improved last month, the government said. They were new or-ders received by the manufacturing sector, value of exports clearing customs, the stock market and land approval for construction.
The three components that deteriorated from the previous month were working hours in the manufacturing sector, the wholesale price index, and the growth of M1B money, including checking account and passbook deposits of companies and individuals, the council said.
Using a five-level spectrum to gauge domestic economic health, the council said it flashed a "yellow-red light" last month, indicating a slight overheating of the economy.
"The `yellow-red' light showed the domestic economy remained dynamic but its pace of growth was slowing down," the council said in a statement.
With "blue light" indicating recession, "yellow-blue" a slowdown, "green" steady growth, and "red" an absolute overheating, the indicator flashed the first "red" light reading since December 1994 in May, before moderating in June.
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