Taiwan: Industrial production remains in the doldrums in October
Industrial output declined 2.9% in October compared to the same month a year earlier, sharper than the 0.7% decrease in September (previously reported: -0.8% year-on-year).
The downturn in October was driven by a steeper fall in output in the manufacturing sector, which represents more than 90% of total industrial production. Moreover, a plunge in mining and quarrying output weighed on industrial output in October. More positively, however, output in the water supply sector increased for the second consecutive month in October.
On a seasonally-adjusted month-on-month basis, industrial output flatlined in October, following a 2.2% drop in September. Annual average growth in industrial production, meanwhile, fell 0.8% in October, contrasting a 0.1% increase in September.