Taiwan: Industrial production continues to fall
July 23, 2012
In June, industrial production contracted 2.4% over the same month last year, which followed the 0.2% decline seen in May. The drop contrasted market expectations, which had anticipated industrial production to grow 0.6%, and marked the fourth consecutive decline in industrial output. The contraction reflected annual declines in all sub-categories, with the exception of mining and quarrying. A month-on-month comparison corroborates the decline suggested by the annual figures, as industrial production fell 1.97% over the previous month in seasonally adjusted terms, exceeding the 0.31% decline recorded in May. As a result of the monthly contraction, the trend continues to point down, with annual average variation in industrial production falling from minus 0.9% in May to minus 1.5% in June.