Taiwan: Industrial activity drops again in November
Industrial output slid 2.5% compared to the same month of the previous year in November, which was a larger contraction than October’s 2.3% decrease. The figure was largely due to sharper contractions in energy and manufacturing production.
On a monthly basis, industrial output dropped 0.2% in seasonally adjusted terms in November, contrasting October’s 3.4% expansion and marking the worst result since June. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 13.1% in November, up from October’s minus 13.6% reading.
Rising demand for AI and cloud applications, tech companies’ new product launches, and a tougher base effect should support a return to growth in industrial production in 2024.