Oct 23, 2018 Politics Comments Off on Industrial production up for 7th straight month in September
Taipei, Industrial production in Taiwan posted a year-on-year increase for the seventh consecutive month in September in the wake of solid global demand for electronic gadgets in the traditional peak season, according to the Ministry of Economic Affairs (MOEA).
Data compiled by the ministry indicated Tuesday that the industrial production index rose 1.54 percent from a year earlier to 111.42 in September after a 1.07 percent year-on-year increase in August.
It was the seventh straight monthly increase after a 4.73 percent decline in February, when the Lunar New Year holiday cut short the number of working days.
However, on a month-to-month basis, industrial production in September fell 1.11 percent, rising 2.25 percent after seasonal adjustments, the MOEA said.
The sub-index for the manufacturing sector, which accounts for more than 90 percent of total industrial production, rose 2.00 percent from a year earlier in September. On a month-to-month basis, the sub-index was 0.72 percent lower but after seasonal adjustments increased 2.73 percent.
In the third quarter, Taiwan's industrial production rose 3.25 percent from the previous quarter with the sub-index for the manufacturing sector up 3.00 percent, the MOEA added.
In the first nine months of this year, local industrial production grew 3.83 percent from a year earlier with the sub-index for the manufacturing sector up 4.12 percent.
In September, production in the electronic components industry rose 5.01 percent from a year earlier on the back of the launch of new mobile devices as well as strong demand for high performance computing, automotive electronics and Internet applications, the MOEA said.
In the electronic components business, production generated by semiconductor firms rose 8.85 percent from a year earlier in September, but production by flat panel makers fell 1.30 percent in the month, the MOEA added.
The data showed peak season effects boosted production in the computer and optoelectronics industry by 8.18 percent from a year earlier in September, but reduced production of camera lenses for notebook computers and mobile devices lowered growth.
In September, production by machinery firms rose 0.46 percent from a year earlier, marking the 20th consecutive month of year-on-year increases, while production of base metals and chemical raw materials grew 5.76 percent and 4.14 percent, respectively, from a year earlier, the MOEA said.
Looking ahead, Wang Shu-chuan (???), deputy head of the ministry's statistics department, said emerging technology is expected to boost demand for tech items in the fourth quarter, forecasting an increase of 3-4 percent in industrial production from a year earlier in October.
Source: Focus Taiwan News Channel
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