Taiwan: Industrial output falls in March
April 23, 2012
In March, industrial production contracted 3.4% over the same month last year, which contrasted the 8.4% rise seen in February. That said, the decline fell short of market expectations, which had anticipated industrial production to fall a sharper 6.8%. The monthly drop was driven by a decline in the manufacturing and the mining sectors, while production of electricity and gas expanded in annual terms. A month-on-month comparison, however, does not corroborate the deterioration suggested by the annual figures, as industrial production added 5.96% over the previous month in seasonally adjusted terms, which contrasted the 6.04% drop recorded in February. The trend continues to point down, with annual average variation in industrial production falling from 1.9% in February to 0.4% in March.