Taiwan industrial production index at 11-month low

Taiwan's economic authority said Friday that the index for industrial production dropped 5.65 percent year on year to 101.96 points, the lowest level since February 2015.

The authority attributed the decline to flagging demand due to a weak global economy, low oil prices and a severe cold front that hit Taiwan late last month.

In January, sub-index for manufacturing, which accounted for more than 92 percent in industrial production, dropped 6.32 percent to 102.13 points.

In breakdown, the production of electronic parts dropped 7.5 percent, machinery was down by 14.9 percent and the one for automobile parts down by 9.9 percent. The indices for chemicals, metals and optical products all dropped.

The authority forecast that the industrial production index would continue to drop in February as there were fewer working days due to the Spring Festival holiday, and production of some companies was affected by an earthquake that hit southern Taiwan on Feb. 6. Endi