Taiwan's industrial output is likely to grow at a faster pace in 4Q thanks to rising demand ahead of the year-end holiday season and strengthening economic recovery in China, economists say. Taiwan's industrial output grows 4.56% on-year in October, above the median 2.80% increase forecast earlier by 12 economists in a Dow Jones poll and a 2.88% rise in September. Taishin Securities Investment Advisory economist Kevin Wang says the better-than-expected reading indicates on-year growth of industrial output in 4Q is likely to rise above 5.00% vs 1.46% in 3Q. "Rising demand from western economies ahead of the year-end holiday season will continue to boost industrial output in November, while demand from China will likely continue to boost December's output," Wang says. Standard Chartered economist Tony Phoo adds that resilient employment conditions also support domestic demand and will likely boost output in the near term.
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