Taiwan: Growth in industrial production moderates
August 25, 2014
In July, industrial production increased a working-day adjusted 6.1% over the same month last year. The reading marked a slight moderation over the 8.6% increase tallied in June and overshot the 5.1% increase the market had expected. July’s reading reflected a broad-based slowdown with almost all sub-categories that compose the index, registering softer growth rates than in the previous month. In addition, construction deteriorated markedly in July.
A month-on-month comparison showed that industrial output contracted a seasonally-adjusted 0.34% in July, which contrasted the 1.83% expansion tallied in June. Due to the annual expansion in July, annual average growth in industrial production rose from 2.9% in June to 3.2% in July, which marked the highest level since December 2011.
Author: Ricardo Aceves, Senior Economist