Taiwan: Industrial production modestly rebounds in April
May 23, 2019
Industrial output increased 1.0% year-on-year in April, contrasting the 9.4% year-on-year decline logged in March—the worst fall in the production index since January 2012.Output in the manufacturing sector—which represents more than 90% of total industrial production—rose 0.9% in April, contrasting the 10.0% fall registered in March. The print came on the back of a strong recovery in the production of investment and consumer goods, while, on the other hand, output of industrial goods continued to contract. Output in the mining and quarrying, and electricity and gas sectors increased in the month, while conversely water supply fell.On a seasonally-adjusted month-on-month basis, industrial output expanded 5.5% in April, contrasting the 4.4% contraction logged in March. Annual average growth in industrial production meanwhile tumbled from 1.8% for the 12 months up to March to 1.1% in April.FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.1% in 2019, which is down 0.7 percentage points from last month’s forecast. For 2020, participants expect industrial output to grow 3.1%.
Author: Joffrey Simonet, Economist