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Taiwan Industrial production December 2022

Taiwan: Industrial activity drops at sharpest rate since March 2019 in December

Industrial output collapsed 7.9% year on year in December (November: -5.6% yoy). December’s outturn marked the worst reading since March 2019. December’s notable weakening was largely due to a sharper contraction in manufacturing production, which recorded the weakest reading since March 2019. In addition, electricity and gas supply production fell.

On a monthly basis, factory output declined 0.9% in seasonally adjusted terms in December, a softer decrease than November’s 1.6% fall. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at a two-year low of 0.9%, down from November’s 2.3% reading.

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