Taiwan Industrial production August 2020


Taiwan: Industrial output growth gains steam in August

September 24, 2020

Industrial production expanded 4.7% year-on-year in August, accelerating from July’s 2.8% increase.

August's figure was largely driven by an improvement in manufacturing output which more than offset a downturn in the energy supply.

On a monthly basis, industrial output grew 3.6% in seasonally-adjusted terms in August, contrasting July’s 0.2% fall and marking the best result since January. Meanwhile, the trend improved modestly, with the annual average growth of industrial production coming in at an over two-year high of plus 4.6%, up from July's 4.4% reading.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.9% in 2020, which is up 1.1 percentage points from last month’s forecast. For 2021, participants expect industrial output to grow 4.4%, which is up 0.3 percentage points from last month’s forecast.


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Taiwan Industrial production Chart

Taiwan Industry August 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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