Taiwan: Industrial production declines at softer pace in June
July 23, 2019
Industrial output fell 0.4% year-on-year in June, up from the revised 2.6% year-on-year decrease logged in May (previously reported: -3.1% year-on-year).
Output in the manufacturing sector—which represents more than 90% of total industrial production—fell 0.6% in June, up from a 2.5% fall in May. The print came on the back of a sizable contraction in consumer goods production, and a milder slump in producer goods output, while output of investment goods continued to grow at a modest pace. Meanwhile, the sectors of mining and quarrying; electricity and gas supply; and water supply all rebounded in the month.
On a seasonally-adjusted month-on-month basis, industrial output increased 0.8% in June, contrasting the 0.3% fall logged in May. Annual average growth in industrial production meanwhile was stable at May’s 0.3% in June.
Author: Joffrey Simonet, Economist