Taiwan: Industrial production contracts for third consecutive month in February
Industrial output fell 1.8% year-on-year in February, worsening from the revised 1.1% contraction logged in January (previously reported: -1.9% year-on-year).
Output in the manufacturing sector—which represents more than 90% of total industrial production—also declined 1.8% in February, down from the 1.1% decline registered in January. In addition, electricity and gas supply as well as water supply continued to contract. On the flipside, mining and quarrying output soared in the month.
On a seasonally-adjusted month-on-month basis, industrial output contracted 0.2% in February, improving from the sharp 2.5% decrease recorded in January. Annual average growth in industrial production meanwhile picked up from 2.8% for the 12 months up to January to 3.0% in the period up to February.