Taiwan: Industrial output growth eases to over two-year low in June
Industrial production grew 0.7% year on year in June (May: +4.1% yoy). June’s result marked the worst reading since January 2020. The reading was largely due to a deterioration in manufacturing production growth. In contrast, electricity and gas supply output rebounded.
On a monthly basis, industrial production fell 0.4% in seasonally-adjusted terms in June, a less pronounced drop than May’s 1.0% fall. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 8.5%, down from May’s 9.9% reading.