Taiwan’s economy flashed a green light, indicating stable growth, for the first time in 17 months in July, boosted by the stock market, machinery imports and retail sales, the National Development Council said, CNA reported. The council’s composite monitoring indicator increased by three points to 23 in July, the highest it has been since March 2015. The NDC uses a five-color system to gauge the country’s economic situation, 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. A monitoring indicator score of between nine and 16 represents a blue light, while 17 to 22 indicates yellow-blue, 23 to 31 signals green, 32-37 represents yellow-red and 38 to 45 signals red. Chiu Chiu-ying, a deputy chief at the NDC’s Department of Economic Development, said the green light and both the trend-adjusted leading index and coincident index moving higher in July for the fifth consecutive month showed that “the economy is in stable condition”.
