Taiwan: Industrial production edges down in June
July 23, 2013
In June, industrial production contracted 0.4% over the same month last year. The figure is slightly worse than the 0.3% drop registered in May and contrasts market expectations of a 2.8% rise. The reading was mainly influenced by a contraction in mining and quarrying, as well as in manufacturing.
On a month-on-month basis, industrial production grew 0.6% in seasonally adjusted terms, which represents a deceleration compared to the 0.8% rise recorded in May. In spite of the negative year-on-year print, annual average growth in industrial production edged up from 1.5% in May to 1.6% in June.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 2.1% this year, which is unchanged from last month's forecast. For 2014, participants expect industrial output to pick up 3.7%.