Taiwan: Industrial production slows markedly in August
September 25, 2018
Industrial output growth expanded 1.3% year-on-year in August, slowing significantly from July’s upwardly revised 4.7% print (previously reported: +4.4% year-on-year).
The weak August print came on the back of slowing manufacturing output—which represents more than 90% of total industrial production—as well as a steeper contraction in electricity and gas supply, mining, and water production. The manufacturing sector grew 1.8% over the same month of the previous year in August, down from the revised 5.3% expansion registered in July (previously reported: +5.0% yoy).
However, on a seasonally-adjusted month-on-month basis, industrial output growth was stable at 0.8% in August, matching July’s revised print (previously reported: +0.6% month-on-month). Annual average growth in industrial production fell markedly from 4.3% in July to 3.9% in August.
Author: Joffrey Simonet, Economist