Taiwan: Industrial production contracts in May
June 24, 2015
In May, industrial production fell a working-day adjusted 3.2% over the same month last year. The figure notably contrasted the 1.3% rise tallied in April (previously reported: +1.1% year-on-year) and marked an over-two-year low. May’s drop was driven by sharp deteriorations in the manufacturing and electricity and gas sectors.
A month-on-month comparison shows that industrial output fell a seasonally-adjusted 2.0% in May, which followed the 3.7% decrease tallied in April (previously reported: -4.0% month-on-month). Annual average growth in industrial production fell from 6.6% in April to 5.9% in May.