Taiwan: Industrial production dips in January
Industrial output decreased 1.5% in January compared to the same month a year earlier, contrasting the revised 6.3% increase recorded in December (previously reported: +6.0% year-on-year).
The contraction in January was broad-based, but primarily driven by a reduction in output in the manufacturing sector, which represents more than 90% of total industrial production. Additionally, the mining and quarrying, and electricity and gas supply sectors also contracted in the month, while water supply activities recorded a mild uptick in fortunes.
On a seasonally-adjusted month-on-month basis, industrial output boosted 4.2% higher in January, having risen 0.9% in December. Meanwhile, annual average growth in industrial production came in at minus 0.4% in January, inching down from the 0.3% decrease recorded in the previous month.