Taiwan Industry June 2018


Taiwan: Industrial production nearly flatlines in June

July 23, 2018

Industrial output weakened notably in June, expanding a mere 0.4% over the previous year, down from May’s upwardly revised 7.6% increase (previously reported: +7.1% year-on-year).

The weaker print in June was primarily driven by softer manufacturing output—which represents more than 90% of total industrial production—on the back of a slowdown in the production of electrical parts and components. The manufacturing sector grew 0.7% in annual terms in June, down from the revised 7.9% expansion logged in May (previously reported: +7.2% yoy). Moreover, the mining and quarrying sector posted its ninth consecutive contraction in June, and electricity and gas supply also declined. Meanwhile, water supply activity accelerated.

On a seasonally-adjusted month-on-month basis, industrial output contracted 2.7% in June, contrasting May’s revised 1.7% expansion (previously reported: +1.3% month-on-month). Annual average growth in industrial production decreased to 4.1% in June from 4.4% in May.

Analysts participating in the FocusEconomics Consensus Forecast expect industrial production to expand 3.6% in 2018, which is unchanged from last month’s forecast. For 2019, participants expect industrial output to grow 3.0%.


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Taiwan Industry Chart

Taiwan Industry June 2018

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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