Taiwan: Industrial output growth improves in February
Latest reading: Industrial output expanded 17.9% year on year in February (January: +4.9% yoy). February’s notable pickup was largely due to an improvement in manufacturing production growth. In addition, electricity and gas supply production contracted at a more moderate pace. The February reading was likely flattered by the timing of the Lunar New Year; the January reading was suppressed for the same reason.
On a monthly basis, industrial production grew 4.8% in seasonally adjusted terms in February, rebounding from January’s 3.8% fall. Meanwhile, the trend improved notably, with the annual average growth of industrial production coming in at 12.2% in February, up from January’s 10.7% reading.