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Taiwan Industrial production May 2024

Taiwan: Industrial output expands at fastest pace since July 2021 in May

Industrial output increased 16.1% in year-on-year terms in May, which was above April’s 14.5% increase. May’s result marked the best reading since July 2021. May’s pickup was largely due to faster growth in manufacturing output, likely as burgeoning global demand for AI applications boosted the country’s electronics sector.

On a monthly basis, industrial production increased 6.2% in seasonally adjusted terms in May, which was significantly better than April’s 0.4% expansion and marking the best result since March 2012. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at minus 1.7% in May, up from April’s minus 4.4%.

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