Taiwan Industry June 2017

Taiwan

Taiwan: Industrial production accelerates in June

July 24, 2017

Industrial output posted further growth in June as manufacturing production continues to strengthen. Industrial output was up 3.1% in annual terms, riding on May’s increase of 0.9% year-on-year. The print was the highest since March. June’s growth accelerated faster than had been expected, as market expectations were projected to be 1.2% year-on-year.

According to the Ministry of Economic Affairs, the healthy improvement in manufacturing output, which accounts for 93% of overall industrial production, was driven by stronger output in the electronics component sector. This included heightened international demand for high-tech gadgets as well as increased production of flat panels. The machinery and equipment production subcomponent also experienced a boost in June.

Industrial production rose 2.4% over the previous month in seasonally-adjusted terms in June, compared to a 0.2% gain in May. Annual average growth rose from 4.1% in May to 4.3% in June, which is the highest rate since June 2015.

Analysts participating in our Consensus Forecast expect industrial production to continue to recover this year and to expand 3.2%, which is down 0.2 percentage points from last month’s forecast. For 2018, participants expect industrial output to moderate and expand 2.8%.


Author:, Economist

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Taiwan Industry June 2017 4

Note: Year-on-year and annual average var. of industrial production index in %.
Source: Directorate-General of Budget, Accounting & Statistics (DGBAS).


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