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Industrial output sets Taiwan on revival path
Source: Bloomberg News |
December 25, 2012, Tuesday
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Print Edition
Print Edition
TAIWAN'S industrial output rose at the fastest pace in nine months in November, adding to signs the island's economy is reviving.
Production climbed 5.85 percent from a year earlier, compared with a revised 4.84 percent in October, authorities said yesterday. The median of 13 estimates in a Bloomberg News survey was 5.4 percent.
Taiwan left interest rates unchanged for a sixth straight meeting this month as the prospect of faster economic expansion on the Chinese mainland, its largest trading partner, brightens the outlook for overseas sales. Export orders rose at the second-highest pace in 2012 in November, and the island predicts economic growth of above 3 percent next year.
"Improving global tech demand led industrial production to accelerate for another month," said Katrina Ell, an economist at Moody's Analytics in Sydney. Still, there are lingering questions over whether the technology gains will be sustained beyond the Christmas shopping season, she said.
Production climbed 5.85 percent from a year earlier, compared with a revised 4.84 percent in October, authorities said yesterday. The median of 13 estimates in a Bloomberg News survey was 5.4 percent.
Taiwan left interest rates unchanged for a sixth straight meeting this month as the prospect of faster economic expansion on the Chinese mainland, its largest trading partner, brightens the outlook for overseas sales. Export orders rose at the second-highest pace in 2012 in November, and the island predicts economic growth of above 3 percent next year.
"Improving global tech demand led industrial production to accelerate for another month," said Katrina Ell, an economist at Moody's Analytics in Sydney. Still, there are lingering questions over whether the technology gains will be sustained beyond the Christmas shopping season, she said.
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