Taiwan: Industrial production moderates in September
October 24, 2016
Industrial production in Taiwan increased 5.0% in September over the same month last year, which represented a moderation compared to the 7.8% expansion recorded in August.
The subcategory of manufacturing—which contributes 93% to overall industrial output—expanded 6.5% annually in September (August: +8.4% yoy) and growth in mining and quarrying slowed from 8.8% in August to 4.6% in September. Activity in construction swung from a 28.1% increase in August to a 19.2% contraction in September.
A month-on-month comparison shows that industrial output contracted a seasonally-adjusted 0.7% in September, which contrasted August’s 1.8% increase. The trend suggests that the ongoing slow recovery in the sector continues, as the annual average variation in industrial production rose from minus 2.4% in August to minus 1.5% in September.
Author: Ricardo Aceves, Senior Economist