Industrial production in Taiwan fell 27.14% annually in February, compared to a 43.31% drop in the previous month, a report by the Department of Statistics, Ministry of Economic Affairs said Tuesday. Economists expected a drop of 29.5%.

Manufacturing output fell 27.65% in February compared to a 44.94% drop in the previous month. Mining and quarrying output slipped 10.38%, slower than a 31.58% drop in January. Production of electricity and water supply fell 10.96% compared to a 16.64% fall in the previous month.

On a monthly basis, industrial output rose a seasonally adjusted 3.32% in February, reversing the 3.07% decline in January.

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