Taiwan Industry February 2015

Taiwan

Taiwan: Industrial production shows a smaller decline in February

March 23, 2016

In February, industrial production fell a working-day adjusted 3.6% over the same month last year. The result marked a softer contraction from the revised 6.0% drop tallied in January (previously reported: -5.7% year-on-year) and was the highest result in seven months. February’s reading came on the back of a contraction in manufacturing output as well as in mining and quarrying. These two components correspond to over 90% of the industrial production in Taiwan.

A month-on-month comparison showed that industrial output increased a seasonally-adjusted 0.3% in February, which marked an improvement from the revised 0.7% decline tallied in January (previously reported: -0.5% month-on-month). Annual average growth in industrial production plunged from minus 2.6% in January to minus 3.1% in February, which marked the lowest level since December 2009.

FocusEconomics Consensus Forecast panelists expect that industrial production will grow 0.4% in 2016, which is down 0.6 percentage points from last month’s forecast. For 2017, participants expect growth in industrial output to reach 2.9%.


Author: Jean-Philippe Pourcelot, Economist

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Taiwan Industry February 2016

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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