Taiwan: Industrial output growth rises in August
Industrial output expanded 3.7% year on year in August (July: +1.6% yoy). The upturn was largely due to accelerations in manufacturing and mining output.
On a seasonally-adjusted monthly basis, factory output fell 0.6% in August (July: +1.0% mom). Meanwhile, annual average industrial production growth fell to 6.5% in August (July: +7.4%). Over 2022 as a whole, industrial production growth has been far lower than last year’s levels. This is reflective of weakening momentum in China and developed economies, and a cooling of pent-up goods demand now that Covid-19 restrictions have been lifted in most parts of the world for many months.