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Taiwan's industrial output down for 10th month

Xinhua, March 23, 2016 Adjust font size:

Taiwan's economic authority said Wednesday that the index for industrial output dropped for a 10th month by 3.65 percent year on year to 86.91 points.

The authority attributed the decline mainly to an earthquake that hit southern Taiwan early last month and the holiday for the Lunar New Year, which fell on Feb. 8 this year.

On a month-on-month basis, industrial output plunged 14.46 percent in February. In the first two months, industrial output dropped 4.92 percent year on year. the agency said.

In February, the sub-index for the manufacturing sector, which accounted for more than 90 percent in industrial production, dropped 4.65 percent to 86.28 points.

The electronics, machinery, automobile parts and computer sectors all saw year-on-year drops in output. However, production of chemicals and metals both increased by more than 2 percent due to rising global demand.

The authority forecast that the industrial production index may continue to drop in March due to weak demand from emerging economies, fierce competition and a high comparison base. Enditem