Taiwan: Industrial output decelerates in October
December 5, 2011
In October, industrial production expanded a subdued 1.4% over the same month last year, which was below the 1.8% increase seen in September and marked the slowest expansion since September 2009. The reading reflects a deceleration in the manufacturing sector, on the back of a slowdown in global demand. The September print fell short of market expectations, which had industrial output accelerating to a 2.5% expansion. A month-on-month comparison, however, does not corroborate the slowdown suggested by the annual figures. Industrial production expanded 2.52% over the previous month in seasonally adjusted terms, which contrasted the 2.32% contraction in September, and marked the first expansion in three months. As a result of the deceleration in annual figures, industrial output continued to trend downwards, with annual average growth in industrial production dropping from 10.1% in September to 9.0% in October.