Taiwan Industry July 2018

Taiwan

Taiwan: Industrial production gains steam in July

August 23, 2018

Industrial output growth expanded 4.4% in annual terms in July, accelerating from June’s upwardly revised 0.5% increase (previously reported: +0.4% year-on-year).

The stronger print in July was chiefly driven by a pick-up in manufacturing output—which represents more than 90% of total industrial production. The manufacturing sector grew 5.0% over the same month of the previous year in July, up from the revised 0.8% expansion registered in June (previously reported: +0.7% yoy). Meanwhile, mining and quarrying production declined while electricity and gas supply contracted for the second consecutive month. Moreover, water supply also fell in July.

On a seasonally-adjusted month-on-month basis, industrial output rebounded 0.6% in July from a revised 2.6% contraction in June (previously reported: -2.7% month-on-month). Annual average growth in industrial production inched up to 4.2% in July from 4.1% in June.

Analysts participating in the FocusEconomics Consensus Forecast expect industrial production to expand 3.5% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, participants expect industrial output to grow 2.9%.


Author:, Economist

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Taiwan Industry July 2018

Note: Year-on-year and annual average var. of industrial production index in %.
Source: Directorate-General of Budget, Accounting & Statistics (DGBAS).


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