Taiwan Industry September 2015


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.

Analysts participating in our Consensus Forecast expect that industrial production will continue to recover in the coming months. They expect industrial production to contract 0.1% in 2016, which is unchanged from last month’s forecast. For 2017, participants expect industrial output to rebound and expand 2.0%, which is up 0.1 percentage points from last month’s forecast.%.

Author:, Senior Economist

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Taiwan Industry Chart

Taiwan Industry September 2016

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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