Taiwan Industry November 2015

Taiwan

Taiwan: Industrial production increases at fastest pace in over two years in November

December 23, 2016

Industrial production jumped 8.8% in November from the same month last year, accelerating from a 3.4% expansion in October. The increase was the fastest since October 2014.

Manufacturing production—which contributes 93% to overall industrial output—increased 10.4% annually in November (October: +5.4% year-on-year). Conversely, mining and quarrying contracted at a double-digit rate again in November (November: -15.1% yoy; October: -15.3% yoy) and activity in construction deteriorated further, although at a slower pace.

A month-on-month comparison shows that industrial output expanded a seasonally-adjusted 2.1% in November, following the 1.3% increase in October. The trend suggests that the ongoing recovery in the sector continues, as the annual average variation in industrial production swung from minus 0.7% in October to plus 0.4% in November—the first positive average growth rate since October 2015.

Analysts participating in our Consensus Forecast expect that industrial production will continue to recover this year. They expect industrial production to expand 2.7% in 2017, which is unchanged from last month’s forecast. For 2018, participants expect industrial output to rebound and expand 2.6%.


Author:, Senior Economist

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Taiwan Industry November 2016 0

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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