Taiwan’s Industrial Output Fell More Than Expected

Taiwan’s industrial output fell at a faster-than-expected rate in May, data from the Ministry of Economic Affairs showed on Monday.

Industrial output dropped 3.05 percent year-on-year in May, after a 1.41 percent rise in April. Economists had expected a decline of 1.52 percent.

Among sectors, production in mining and quarrying declined 3.83 percent in May and electricity and gas supply production decreased by 3.79 percent.

Manufacturing output and water supply decreased by 3.01 percent 2.29 percent, respectively.

On a month-on-month basis, industrial production fell 0.65 percent in May, after a 5.78 percent increase in the preceding month.

Separate data from the Ministry of Economic Affairs showed that the jobless rate came in at 3.67 percent in May, the same rate as seen in April. Economists had expected 3.7 percent.

On a seasonally adjusted basis, the unemployment rate rose 0.02 percentage points to 3.75 percent in May.

The number of unemployed persons held steady at 437,000 in May.