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Taiwan Industrial Production Growth Fastest In 6 Months

Taiwan's industrial production rose more-than-expected in October and at the fastest pace in six months, figures from the Ministry of Economic Affairs showed on Friday.

Industrial production grew 8.25 percent year-on-year in October after a 1.64 percent gain in September. Economists had forecast a 3.55 percent increase.

Production grew at the fastest pace since April, when output rose 8.82 percent.

Manufacturing output increased 9.24 percent and mining and quarrying production rose 0.96 percent.

Electricity and gas supply output decreased 2.48 percent and water supply shrunk 3.70 percent.

"Industrial production surprised on the upside in October but we doubt this will last given that orders from smartphone companies have been cut," ING Bank economist Iris Pang said.

"Taiwan's exporters and manufacturers could be hit even harder if the trade dispute between Mainland China and the US escalates," the economist added.

Pang expects the central bank to continue to stay put and the Taiwanese economic growth to slow to 2 percent next year from a possible 2.6 percent this year.

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