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November industrial production index hits fresh high

2010/12/23 19:55:51

Taipei, Dec. 23 (CNA) Taiwan's industrial production index hit anew high in November on rising demand from China on a buying spreeahead of the Lunar New Year holiday, which will take place inFebruary, the government said Thursday.

The November industrial production index reached 130.34, up 3.08percent from October and up 19.37 percent from a year earlier, theMinistry of Economic Affairs (MOEA) said.

It is the sixth time the index has hit a high so far this year onthe back of a strong showing in export orders and a growing localeconomy, the MOEA said.

Tsai Mei-na, deputy director of the ministry's statisticsdepartment, said growing demand for high-tech products from China andan increase in investment in Taiwan pushed the November industrialproduction index up further.

After seasonal adjustments, the local industrial production indexfor November rose 6.61 percent from a month earlier, the MOEA said.

The index of manufacturing production rose 19.94 percent, withproduction in the electronic component segment rising 28.72 percentafter new products hit the market and fresh promotion salesstrategies boosted buying interest.

Production of the base metal segment for the month rose 21.73percent from a year earlier, while production of the chemical segmentgained 4.75 percent year-on-year, the ministry said.

A survey conducted by the ministry shows that 14.75 percent ofthe respondents agreed that December's industrial production willcontinue to expand, while 8.72 percent of those polled saidproduction will fall. Meanwhile, 76.53 percent said December'sindustrial production will be little changed from November.

(By Lin Shu-yuan and Frances Huang)