Taiwan: Industrial production drops to lowest level since February 2013
February 24, 2014
In January, industrial production declined 1.8% over the same month last year, which contrasts the 5.6% rise tallied in December. Moreover, the print came in above market expectations of a 3.8% drop. A contraction in manufacturing output more than offset the rises tallied in water supply as well as in mining and quarrying.
Compared to December, industrial output declined 1.7% in seasonally adjusted terms, which contrasts the 2.1% increase seen in December. Owing to the negative print, annual average growth in industrial output swung from 0.8% in December to minus 0.9% in January.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 2.1% this year, which is down 0.1 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 3.6%.