Taiwan Industrial production May 2020


Taiwan: Industrial output growth moderates in May

June 23, 2020

Industrial output rose 1.5% year-on-year in May (April: +4.2% yoy).

May's notable slowdown was largely due to a deterioration in manufacturing production—which represents more than 90% of total industrial output. In contrast, electricity and gas, and water supply fell at a softer pace.

On a monthly basis, factory output fell 0.9% in seasonally-adjusted terms in May, contrasting April’s 0.5% expansion. Meanwhile, the trend improved with the annual average growth of industrial production coming in at 3.9%, up from April's 3.5% reading.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.0% in 2020, which is up 0.6 percentage points from last month’s forecast. In 2021, panelists expect industrial output to grow 4.0%.

Author:, Economist

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Taiwan Industrial production Chart

Taiwan Industry May 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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