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.