Taiwan: Industrial output shrinks at a softer rate in February
Industrial output decreased 8.7% in year-on-year terms in February, which was markedly softer than January’s 21.0% decrease but still marked the sixth consecutive year-on-year decline. The reading reflected softer falls in the manufacturing and energy subsectors, as well as expansions in mining and water supply.
On a monthly basis, industrial production fell 4.5% in seasonally adjusted terms in February, which was below January’s 3.2% fall and marked the worst result since March 2022.
Taken together to remove distortions from the Lunar New Year, January–February data suggests that the industrial sector remains in the doldrums, weighed on by a downturn in the global electronics sector and weak import demand from China.