Taiwan: Industrial production expands unexpectedly
September 24, 2012
In August, industrial production expanded 1.9% over the same month last year, which was up from the revised 0.1% expansion seen in July (previously reported: 0.0% year-on-year). The figure contrasted market expectations, which had anticipated industrial production would decline 0.4%. The monthly figure mainly reflected an expansion in mining and quarrying as well as in manufacturing. A month-on-month comparison corroborates the expansion suggested by the annual figures, as industrial production added 0.22% over the previous month in seasonally adjusted terms, which followed the 1.99% increase recorded in July. Despite the stronger expansion in August, the trend continues to point down, with annual average variation in industrial production falling from minus 1.8% in July to minus 2.0%.