News

Taiwan's economy shows signs of continued steady growth
 

2017/10/27

Taipei, Oct. 27 (CNA) Taiwan's economy continued to display signs of steady growth with the composite monitoring indicator not only flashing a green light for the month of September but also reaching its highest point since April 2011, according to a National Development Council (NDC) report released on Friday.

The NDC's composite monitoring indicator found Taiwan's economy to have scored 30 for the month of September, a five-point increase from August.

At 30, the economy currently falls under the green light category, with scores of 23-31 signaling steady growth.

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 (吳明蕙), head of the NDC's Department of Economic Development, attributed the increase in the composite score to increased overseas demand, well-performing export numbers as well as domestic factors such as a boost in demand and the number of workdays in the month.

In particular, exports reached US$28.9 billion in September, the highest ever.

As purchases of electronic products entered peak season earlier in August exports really picked up, signaling Taiwan's economic recovery.

Wu noted that last month's composite score was only two points shy of taking Taiwan's economy into the yellow-red category denoting a warming economy, adding that it could reach that level for the remainder of the year.

(By Chen Cheng-wei and Kuan-lin Liu)

 

Link, http://focustaiwan.tw/news/aeco/201710270020.aspx   

Ufficio di Rappresentanza di Taipei - Viale Liegi n.17, 00198 Roma | Tel. 06-98262800 - P. Iva 97076980586