Taiwan: Industrial output growth moderates in May
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.