Taiwan: 5th consecutive expansion in industrial production reaches fastest pace in over a year
July 23, 2014
In June, industrial production surged a working-day adjusted 8.6% over the same month last year. The reading marked an acceleration over the 5.4% increase tallied in May and represented the fifth consecutive expansion as well as the fastest pace since January 2013. In addition, the print overshot the 6.0% increase the market had expected. June’s reading reflected a broad-based acceleration with almost all sub-categories that compose the index registering faster growth rates than in the previous month.
A month-on-month comparison showed that industrial output increased a seasonally-adjusted 1.85% in June, which came in above the 0.95% expansion tallied in May. Due to the expansion in June, annual average growth in industrial production rose from 2.1% in May to 2.9% in June, which marked the highest level since January 2013.
Author: Ricardo Aceves, Senior Economist