Taiwan: Industrial production rebounds in February on stronger growth in manufacturing
March 24, 2014
In February, industrial production expanded 7.0% over the same month last year. The reading contrasted the 1.8% contraction observed in January and doubled the 3.5% rise the market had expected. February's result reflected a strong expansion in manufacturing production as well as in electricity and gas supply. On a sequential basis, industrial production increased a seasonally-adjusted 1.4% in February, which contrasts the 1.7% fall registered in February. Owing to the strong annual expansion, annual average growth in industrial production swung from minus 0.9% in January to plus 0.6% in February. FocusEconomics Consensus Forecast panellists expect industrial production to rise 3.0% this year, which is unchanged from last month's forecast. For 2015, participants expect industrial output to pick up to 3.8%.
Author: Ricardo Aceves, Senior Economist