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Taiwan's industrial production up for sixth straight month

2018/09/25 18:31:55

Taipei, Sept. 25 (CNA) Industrial production in Taiwan rose in August from a year earlier, marking the sixth consecutive month of year-on-year increase amid solid global demand, according to data released by the Ministry of Economic Affairs (MOEA) Tuesday.

The data showed that industrial production increased 1.33 percent year-on-year in August but the growth was more moderate than the 4.69 rise in July, due to a relatively high comparison base over the same period of last year.

It was the sixth straight month of increase after a 4.73 percent decline in February, when the Lunar New Year holiday cut short the number of working days.

The MOEA said industrial production in August also showed a monthly increase of 3.37 percent, which was 0.76 percent after seasonal adjustments.

The sub-index for the manufacturing sector, which accounts for more than 90 percent of total industrial production, rose 1.85 percent from a year earlier in August. On a month-on-month basis, the sub-index was 3.75 percent higher but after seasonal adjustments, it showed a decline of 0.21 percent.

In the first eight months of the year, industrial production rose 4.17 percent from a year earlier, with the sub-index of the manufacturing sector up 4.44 percent, the data showed.

In August, production in the electronic components industry increased 1.96 percent, with production at semiconductor firms up 1.05 percent in reflection of their efforts to develop new technology, which boosted demand, the MOEA said.

However, the ministry said, flat panel makers saw falling demand for small- and medium-sized displays, which resulted in a 3.10 percent drop in production in that subsector and compromised the production figures for the entire electronics industry.

Meanwhile, production soared 13.78 percent in the computer and optoelectronics industry, boosted by rising demand for cloud-based technology applications and increased shipments of notebook computers in a peak season, the MOEA said.

In the chemical material industry, production rose 3.45 percent in August, driven by strong demand for polyester-related products and the return to full operation at some naphtha cracking plants after annual maintenance, according to the data.

Machinery production increased 4.82 percent on a rising trend of automation in the global market, the MOEA data showed.

Production in the base metal industry increased 3.84 percent from a year earlier on rising demand for steel, while production in the auto/auto parts industry fell 11.55 percent due to the traditional beliefs associated with Ghost Month, during which consumers usually avoid buying big ticket items such as cars and homes because they think it is bad luck to do so.

(By Liao Yu-yang and Frances Huang)