Taiwan Industry December 2019

Taiwan

Taiwan: Industrial production soars in December

January 22, 2020

Industrial output increased 6.0% in December compared to the same month a year earlier, quickening from the 1.8% increase recorded in November.

The acceleration in December was chiefly driven by strong output growth in the manufacturing sector, which represents more than 90% of total industrial production, while a return to expansion in electricity and gas supply supported the overall figure. This came despite a slowdown in water supply and a contraction in mining and quarrying activities.

On a seasonally-adjusted month-on-month basis, industrial output rose 1.4% in December, having boosted up 2.4% in November. Meanwhile, annual average growth in industrial production came in at minus 0.3% in December, improving from the 0.9% decrease recorded in the previous month.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.5% in 2020, which is down 0.8 percentage points from last month’s forecast. In 2021, panelists expect industrial output to grow 3.2%.


Author:, Economist

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Taiwan Industry December 2019

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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