Taiwan: Industrial production remains buoyant in October
Latest reading: Industrial production increased 14.5% on a year-on-year basis in October, following a 16.4% increase in the prior month. Despite the slight slowdown, the big picture is that the Taiwanese industrial sector remains buoyed by booming manufacturing output as rising global AI demand drives IT and electronics sales.
Relative to the previous month’s data, readings in October worsened for manufacturing (+15.4% in annual terms vs +17.8% in September) and water supply (-2.6% vs -2.3% in September). In contrast, readings improved for electricity and gas supply (-1.1% vs -9.4% in September) and mining and quarrying (-0.5% vs -2.8% in September).
In seasonally adjusted month-on-month terms, industrial production was down 0.9% in October, following 0.5% growth in the prior month.