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.
Author: Stephen Vogado, Economist