Taiwan: Industrial output growth improves in April
Industrial production increased 7.3% year-on-year in April (March: +2.4% yoy). March’s reading was likely weighed down by a mass power outage early in the month. The improvement in April was largely due to faster growth in manufacturing output, with semiconductor production growing particularly strongly. In addition, electricity and gas supply output improved.
On a seasonally-adjusted monthly basis, industrial output rebounded strongly, rising 4.1% in April (March: -6.3% mom), the best result since February 2021. Meanwhile, annual average industrial production growth fell to 11.1% in April (March: +11.7%).