Global EditionASIA 中文双语Français
China
Home / China / Latest news

Taiwan economy sluggish for five months

Xinhua | Updated: 2020-08-28 10:23
Share
Share - WeChat

TAIPEI -- Taiwan's economy remained sluggish in July, as indicated by the latest index gauging the business climate, which was released by the island's economic regulating department Thursday.

The composite index of monitoring indicators flashed a "yellow-blue light" in July for the fifth consecutive month, though the index increased by two points from June to 21 points, suggesting that the economy maintained a tendency toward recession, the department said in a press release.

Under Taiwan's five-color system to assess the economy, a blue light (9-16 points) indicates a contraction, a yellow-blue light (17-22) means sluggishness, a green light (23-31) signals stable growth, a yellow-red light (32-37) suggests a warming economy and a red light (38-45) points to an overheated economy.

Out of the nine factors in the composite index for July, four changed, and five remained unchanged. The sub-index for industrial production flashed a yellow-blue light, compared with a green light in June, while the sub-index for business sentiment among manufacturers turned from blue to yellow-blue.

The sub-indexes for stocks and imports of machinery and electrical equipment both changed from green to yellow-red in July.

The trend-adjusted leading indicator, which is composed of seven sub-indexes to predict changes in the economy, increased by 1.23 percent to 102.39 points in July, suggesting weakening impacts from the COVID-19 epidemic on the economy, the statement said.

Taiwan witnessed improvements in local consumption and exports in July but the economy may continue to struggle since the COVID-19 pandemic remains severe across the world, the statement said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US