Taiwan: Industrial production expands for 4th consecutive month
June 23, 2014
In May, industrial production increased a working-adjusted 5.2% over the same month last year. The reading came in slightly below the revised 5.3% expansion tallied in April (previously reported: +4.8% year-on-year) and represented the fourth consecutive month of expansion. May’s print, which was well above the 2.3% expansion the market had expected, continued to reflect healthy growth in manufacturing output and an improvement in construction.
Compared to the previous month, industrial production increased a seasonally-adjusted 0.8% in May, which was below the 2.1% expansion registered in April. Due to the expansion in May, annual average growth in industrial production rose from 1.6% in April to 2.1% in May, which marked the highest level since January 2013.
Author: Ricardo Aceves, Senior Economist