Taiwan Industry June 2019

Taiwan

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.

FocusEconomics Consensus Forecast panelists expect industrial production to contract 0.4% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, participants expect industrial output to grow 2.7%.


Author:, Economist

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Taiwan Industry June 2019 2

Note: Year-on-year and annual average var. of industrial production index in %.
Source: Directorate-General of Budget, Accounting & Statistics (DGBAS).


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