Taiwan: Industrial production rises to highest level in six months in July
August 23, 2013
In July, industrial production surged 2.1% over the same month last year, which contrasts the 0.4% contraction observed in June. Moreover, the reading contrasts market expectations of a 0.5% drop and marks the first expansion since January 2013. The print was mostly the result of an expansion in construction as well as in water supply.
Compared to the previous month, industrial output edged up 0.8% in seasonally adjusted terms, which came in above the 0.6% increase recorded in June. Reflecting the higher reading, annual average growth in industrial output rose from 1.6% in June to 1.8% in July.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.9% this year, which is unchanged from last month's forecast. For 2014, participants expect industrial output to pick up to 3.7%.