Industrial production rises for 3rd consecutive month in October

Industrial production in Taiwan posted a year-on-year increase for the third consecutive month in October, helped by the launch of new mobile devices by international brands and the approaching year-end peak demand season in Europe and the United States, government statistics showed on Wednesday.

The industrial production index in Taiwan rose 3.7 percent from a year earlier to 109.6 points after a 5.02 percent year-on-year increase in September and a 7.78 percent year-on-year increase in August, according to Ministry of Economic Affairs (MOEA) data.

The sub-index for the manufacturing sector, which accounts for more than 90 percent of Taiwan’s total industrial production, rose 5.67 percent from a year earlier, the sixth consecutive month the index has risen year-on-year, the MOEA said.

Solid growth in manufacturing sector production is the result of international brands unveiling new gadgets, the ministry added.

Production in the local electronics components segment for October rose 14.09 percent from a year earlier, which made it a major driver in the growth of manufacturing, according to the MOEA.

The sub-index for the base metals industry rose 16.39 percent from the previous year because of strong steel shipments.

As for the chemical industry, production in October rose 3.81 percent from a year earlier because of an increase in production at petrochemical raw material makers, the MOEA said.

However, the computer and optoelectronics sub-index fell 8.72 percent due to the declining production of some handheld devices and optoelectronics products, according to the ministry.

Meanwhile, production in the auto/auto components industry and the machinery sector declined 2.61 percent and 4.95 percent, respectively, from a year earlier due to a product transition period and a relatively high comparison base from the same period last year.

In the first 10 months of this year, the sub-index for the manufacturing sector was up 0.51 percent from a year earlier, the data showed.

Meanwhile, in the same period the industrial production index rose 0.21 percent from a year earlier and is expected to continue its upwards movement in November and December, according to Wang Shu-chuan (王淑娟), deputy director of the MOEA’s statistics department.

Source: Focus Taiwan News Channel

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