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Taiwan economy sees rare improvement in September

Publication Date : 27-10-2012

 

Taiwan's economy showed some improvement in September, with a government-designed economic indicator being moved a notch up for the month from the rock-bottom level that it had remained at for almost a year.

The Council for Economic Planning and Development (CEPD) yesterday flashed a yellow-blue light in the five-tier system for September after giving it a blue light, representing recession, for 10 consecutive months.

Export trade, industrial production, stock prices and non-agricultural sectors all saw improvements in September, the CEPD said.

According to the CEPD, export value last month reached 27.17 billion Taiwan dollar (US$925.98 million), rising 10 per cent sequentially and 10.4 per cent from year-earlier levels to hit the highest in 14 months.

Industrial production increased 3 per cent year-on-year in September, with the manufacturing sector showing a rise of 3.08 per cent. For industrial production, the light moved from yellow-blue in August up to green in September, an indicator of stability.

The stock market's weighted index in September came to 7,610.38 on average, up from 7,385.13 in the same month of last year, resulting in a change to green last month from yellow-blue in August.

For nonagricultural sectors, the indicator also turned from yellow-blue to green.

But the wholesale, retail and food sectors saw revenues drop 0.8 per cent in September, leaving the light unchanged at blue for the month.

The average score for September surpassed the 15 points for August, reaching 20 points and leading it into the yellow-blue zone, the CEPD said.

The spell of 10 blue-light months was longer than the one that hit Taiwan during the global financial tsunami from September 2008 till May 2009.

*US$1= 29.34 Taiwan dollar

 

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