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Industrial production index records 2.44% annual drop in June

2012/07/23 23:19:32

Taipei, July 23 (CNA) Taiwan's industrial production index stood at 128.59 points in June, down 2.44 percent from the same period a year earlier, the Ministry of Economic Affairs (MOEA) announced Monday.

The June index was also down by 5.23 percent from the previous month, according to the latest statistics compiled by the government agency.

The manufacturing index, the main component of the industrial production index, fell 5.41 percent month-on-month in June to 131.39.

The drop was attributed to a sudden power outage at the Formosa Plastics Group's petrochemical compound in Yunlin County and a nationwide shutdown of offices because of torrential rains.

Wang Li-chen, head of the MOEA Department of Statistics, predicted that the manufacturing index would only rise slightly in July to 132.29, held back by the ongoing European debt crisis and a slowdown in China's economic growth.

(By Lin Meng-ju and Elizabeth Hsu)
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