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Taiwan Industry March 2020

Taiwan: Industrial production marches on in March

Industrial output increased 10.4% in March compared to the same month a year earlier, slowing from the stellar 20.7% growth recorded in February. As such, industrial output expanded 9.7% on average across in first three months of the year.

The reading in March reflected a slower expansion in manufacturing sector output—which represents more than 90% of total industrial production—as the pace of growth nearly halved from February’s five-year high. Expansion also slowed in the mining, energy and water supply sectors, although remained robust across all sub-sectors nonetheless.

On a seasonally-adjusted month-on-month basis, industrial output inched up 0.2% higher in March, having fallen 4.9% in February. Meanwhile, annual average growth in industrial production rose 3.2% in March, picking up from the 1.5% increase recorded in the previous month.

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