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.
Author: Joffrey Simonet, Economist