Taiwan: Industrial output decelerates further in September
October 24, 2011
In September, industrial production expanded a subdued 1.6% over the same month last year, which was below the 4.0% increase in August. The reading reflects a deceleration in the manufacturing sector as global economic demand slows. The September print fell short of market expectations, which had industrial output accelerating to a 6.3% expansion. A month-on-month comparison points to a deeper deterioration than suggested by the annual figures, as industrial production contracted 2.47% over the previous month in seasonally adjusted terms, which followed a 1.75% contraction in August. Consequently, industrial output continued to trend downwards, with annual average growth in industrial production dropping from 11.0% in August to 10.1% in September. The government anticipates that GDP will expand 4.8% in 2011 and 4.6% in 2012.