Taiwan

Taiwan saw industrial production up 30.7% y-o-y in May, down slightly from a 32.0% y-o-y increase in April. While y-o-y figures are set to continue moderating as low-base effects diminish, we are encouraged that industrial production continued rising (by 2.5% m-o-m) and actually made an all-time high. The reading is in line with our expectations that Taiwan's economy will see a very strong expansion over the course of 2010, with real economic growth forecast to hit 5.9%.

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