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Taiwan records drop in industrial production in May

2015/06/24 21:54:40

Taipei, June 24 (CNA) Taiwan's industrial production index fell 3.18 percent to 106.71 in May from the previous year, ending 15 consecutive months of growth, according to data released Wednesday by the Ministry of Economic Affairs.

The ministry attributed the drop to a decline in the production of panels, LEDs and solar cells due to inventory adjustments.

The production of electronic parts and components also fell in May, dropping 1.79 percent year-on-year after steady growth since May 2012, the ministry said.

In a breakdown of the production in the different sectors, the data showed that manufacturing dropped 2.57 percent year-on-year in May, mining and quarrying increased 4.71 percent, electricity and gas supply dropped 19.32 percent, water supply fell 4.21 percent, and buildings construction rose 2.45 percent.

Sales in trade and food services dropped by an annual 4.3 percent to NT$1.17 trillion (US$37.8 billion) in May.

Wholesale trade declined 6.5 percent in May, while retail trade grew 0.7 percent and sales of food and beverages rose 4.1 percent, the data showed.

(By Huang Chiao-wen and Elizabeth Hsu)