The latest Leading Economic Indicators (LEI) points to “a positive outlook for the country’s economy,” according to National Statistical Coordination Board (NSCB) on Tuesday.
In a statement, NSCB revealed that composite LEI for third quarter was at 0.152, compared to the 0.064 of the second quarter.
“The latest LEI computations show the index in positive territory signifying firmly well for the domestic economy,” NSCB said.
The data also stated that LEI stood at 0.029 in the third quarter of 2012, and compared to this year, the indicator quadrupled, noting the robust development in the country’s economy. Some 11 indicators were considered, eight of which contributed positive results while only three ended negatively.
The positive indicators include: total merchandise imports; visitor arrivals; money supply; electric energy consumption; terms of trade index; hotel occupancy rate; number of new businesses and stock price index.
Negative indicators, on the other hand, were foreign exchange rate; wholesale price index and consumer price index.
The positive indicators for the third quarter of the year accounted for 82.4 percent of the total contribution, which increased from the 71.9 percent recorded in second quarter. Further, the negative contributors registered 17.6 percent of the total contribution.
NSCB said that there were also four indicators that shifted directions to positive in contribution to the third quarter, which include foreign exchange; terms of trade; hotel occupancy rate and total merchandise imports.
Kristyn Nika M. Lazo