Taiwan: Industrial production picks up in March
April 25, 2011
In March, industrial production expanded 13.8% over the same month last year. The March print was above the revised 12.9% increase (previously reported: +13.3% year-on-year) recorded in February, which had marked the slowest pace in five months. Moreover, the expansion overshot market expectations, which had anticipated industrial output growth slowing to 10.8%. A month-on-month comparison does not corroborate the strength suggested by annual figures, as industrial production contracted 0.90% over the previous month in seasonally adjusted terms, which followed a 0.80% drop in February. The trend in industrial output continues to point downwards, with annual average growth in industrial production stepping down from 22.0% in February to 19.9% in March. The government anticipates GDP to expand 4.9% in 2011.