Taiwan's recession eases

Taiwan's recession-hit economy showed further signs of improvement Monday as key indicators used to forecast quarterly growth showed increases for the seventh month in a row, the government said.
The August index of leading indicators rose 1.9 percent from July, when it posted a revised 3.1 percent monthly increase, the Council for Economic Planning and Development said.
The index, used to forecast economic performance in the coming three- to -six months, showed an increase in overtime hours in manufacturing and service sectors, a rise in construction licence issuances, and an improvement in export orders, share prices and money supply, the council said.
The August index of coincident indicators, which tracks the current pace of economic activity, rose 0.6 percent from a month earlier, compared with a rise of 1.9 percent in July.