Taiwan Industry October 2018

Taiwan

Taiwan: Industrial production growth surges in October

November 23, 2018

Industrial output growth expanded 8.3% year-on-year in October, surging from September’s upwardly revised 1.6% print (previously reported: +1.5% year-on-year).

Although water supply, and electricity and gas production continued to contract in the month, the October reading was buttressed by a sharp acceleration of manufacturing output growth—which represents more than 90% of total industrial production—as well as a recovery in mining and quarrying production. Manufacturing growth reached 9.2% in October, up from 2.0% in September, with the manufacturing production sub-index reaching its highest level since April.

On a seasonally-adjusted month-on-month basis, industrial output growth fell from 2.3% in September to 1.1% in October. Annual average growth in industrial production, on the other hand, rose from 3.6% in September to 4.1% in October.

Analysts participating in the FocusEconomics Consensus Forecast expect industrial production to expand 3.0% in 2019, which is unchanged from last month’s forecast. For 2020, participants expect industrial output to grow 2.7%.


Author:, Economist

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Taiwan Industry October 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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