Taiwan’s economy turns sluggish in March due to COVID-19 pandemic

Focus Taiwan
Date:\ 04/27/2020
By: Pan Tzi-yu, Tsai Fan-min and Ko Lin

CNA file photo

Taipei, April 27 (CNA) Taiwan's economic indicators signaled economic sluggishness in March for the first time in four months due to the adverse effects of the new coronavirus disease (COVID-19), the National Development Council (NDC) said Monday.

The composite index of monitoring indicators flashed a yellow-blue light at 20 points, down from 24 and a green light in February, according to data compiled by the NDC, Taiwan's top economic planning agency.

The NDC uses a five-color system to gauge the country's economic performance, with blue indicating economic recession, yellow-blue representing sluggishness, green signifying stable growth, yellow-red referring to a warming economy and red pointing to overheating.

Out of the nine factors in the composite index for March, the sub-indexes for monetary aggregates (M1B) and manufacturing shipments remained green lights, while the sub-index for exports flashed a blue light, compared with a green light a month earlier, the NDC said.    [FULL  STORY]

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