Taiwan Industrial production October 2020

Taiwan

Taiwan: Industrial output growth eases in October

November 23, 2020

Industrial output rose 7.1% in year-on-year terms in October, which followed September's 11.6% increase. The slowdown was largely driven by a softer increase in manufacturing production.

On a seasonally-adjusted monthly basis, factory output fell 0.6% in October (September: +2.8% mom), the worst result since May. Meanwhile, the trend improved notably, with the annual average growth of industrial production coming in at plus 6.3% in October, up from September's 5.5% reading.

FocusEconomics Consensus Forecast panelists project industrial production to grow 4.7% in 2021, which is up 0.1 percentage points from last month’s forecast. For 2022, participants expect industrial output to increase 4.6%.


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Taiwan Industry October 20 20

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Directorate-General of Budget, Accounting & Statistics (DGBAS).


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