Taiwan: Industrial production contracts for third consecutive month in July
August 31, 2015
In July, industrial production fell a working-day adjusted 3.0% over the same month last year. The figure was a deterioration over the revised 1.2% contraction tallied in June (previously reported: -1.4% year-on-year) and marked the third consecutive drop in a row. The result was driven by more pronounced contractions in food and beverages as well as a large decline in production of petroleum and coal products.
A month-on-month comparison shows that industrial output fell a seasonally-adjusted 1.0% in July, which contrasted the revised 1.0% increase tallied in June (previously reported: +0.9% month-on-month). Annual average growth in industrial production fell from 5.0% in June to 4.3% in July, which marked an almost-one-year low.