Taiwan's business indicators show that the economic recovery will likely remain on the slower track in the near term, the Council for Economic Planning and Development said Friday.
The seasonally adjusted leading economic index moved up modestly by 0.6 percent month-on-month to 104.2 in June, following similar increases in the previous two months, survey data revealed.
The annualized six-month growth rate of the index was 7 percent in June, slightly faster than 6.8 percent in May.
Among components of the trend-adjusted index, producer's inventory for manufacturing, real monetary aggregates, the average monthly overtime in industry and services, and the stock price index made positive contributions. Meanwhile, the index of export orders and building permits had negative cyclical movement.
At the same time, the coincident index, a measure of the current economic activity, advanced 0.6 percent sequentially to 102.8 in June, following May's 0.5 percent gain. The trend-adjusted version of the index rose 0.4 percent, a tad faster than the 0.3 percent gain seen in the previous month.
Among the seven indicators making up the trend-adjusted coincident index, electric power consumption, real machinery and electrical equipments imports, and real customs-cleared exports had positive cyclical movements from the previous month, data showed.
Meanwhile, the lagging index, a measure of the past performance of the economy, decreased 0.3 percent sequentially to 102.3 in June.
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