In October 2024, Taiwan's industrial production witnessed a slowdown, with the growth rate cooling to 8.85 percent. This marks a noticeable dip from the previous month's figure, which was reported as 11.15 percent, as revealed in the latest data update on November 25, 2024.
The current October indicator signifies a year-over-year comparison to the industrial production rate from the same month in 2023. While the production numbers remain strong, the deceleration in growth could be attributed to various external and internal economic factors affecting the Taiwanese market.
This contrasts with the September figures, where industrial output growth was slightly higher, showcasing a robust double-digit increase when compared to September of the previous year. The latest data provides critical insights for policymakers and businesses as they navigate the evolving economic landscape in Taiwan and adjust strategies accordingly to maintain momentum amidst a slower growth trajectory.