Taiwan: Industrial production rises in October
November 29, 2013
In October, industrial production rose a working-day adjusted 0.8% over the same month last year. The figure marked a slight improvement over the 0.6% expansion recorded in September (previously reported: +1.1% year-on-year), but came in below market expectations of a 1.1% increase. The increase was broad-based, with electricity, gas and energy supply registering the largest expansion. The only category that declined was mining and quarrying.
The monthly data confirms the improvement suggested by the annual data; industrial output increased 0.4% in seasonally-adjusted terms, which was up from the 0.2% increase recorded in September. In spite of the higher figure, annual average growth in industrial output edged down from 1.5% in September to 1.2% in October, the lowest level since December 2012.
FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.1% this year, which is up 0.3 percentage points from last month's forecast. For 2014, panel participants expect industrial output to pick up to 3.6%, which is down 0.2 percentage points from last month's estimate.