Taiwan: Industrial output growth drops to 10-month low in December
Industrial production increased 10.0% year-on-year in December (November: +11.4% yoy). The figure marked the worst reading since February. December’s figure was largely driven by a deterioration in manufacturing output growth. In contrast, electricity and gas supply output picked up pace. Over 2021 as a whole, industrial production expanded an impressive 13.2%, spurred by strong demand for the country’s electronics exports.
On a seasonally-adjusted monthly basis, industrial output rose 1.2% in December (November: -0.4% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 13.2%, down from November’s 13.3%.