Oct 26, 2018 Medical & Health Care Comments Off on Local economy shows signs of sluggishness in September
Taipei, Taiwan's economy showed signs of sluggish growth in September as a growing trade war between the United States and China undermined confidence in the business sector, the National Development Council (NDC) said Friday.
The National Development Council's (NDC) composite index of monitoring indicators fell to 22 points for September, flashing a "yellow-blue" light, down from 24 points in August, when it flashed a "green" light.
The NDC uses a five-color system to gauge the country's economic performance, with blue indicating economic recession, yellow-blue representing economic sluggishness, green denoting stable growth, yellow-red referring to a warming economy, and red pointing to economic overheating.
Wu Ming-hui (???), head of the NDC's Department of Economic Development, said unfavorable external factors such as the Washington-Beijing dispute have turned the private sector more cautious toward Taiwan's economic outlook and undermined confidence.
Sales generated by the construction material and automotive sectors fell in September, dealing another blow to the September composite index, Wu said.
Of the nine factors in the index, four -- stock price changes, imports of machinery and electrical equipment, sales posted by retail, wholesale and food/beverage sectors, and business sentiment in the manufacturing sector -- moved lower in September from a month earlier, the NDC said.
In particular, the sub-indexes for retail, wholesale and food/beverage revenue and business sentiment in the manufacturing sector flashed a yellow-blue light in September, a downgrade from a green light in August, the NDC said.
The sub-index on stock price changes continued to flash a green light, and the sub-index for machinery and electrical equipment imports continued to flash a yellow-red light, according to the NDC.
The sub-indexes for industrial production, non-farm payrolls, exports, and sales generated by the manufacturing sector moved higher in September, while the sub-index for the money supply stayed unchanged, the NDC said.
Meanwhile, the index of leading indicators, which is used to gauge the economic outlook for the coming six months, fell for the fourth consecutive month in September, dropping 0.11 from a month earlier.
The result indicated that cautious sentiment has been growing in Taiwan amid the current unfavorable global trade situation, the NDC said.
Source: Focus Taiwan News Channel
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