Taiwan's industrial production up for 3rd consecutive month in October

Taiwan's industrial production rose for third straight month in October buoyed by overseas demand for electronic components.

According to data released by the island's economic department on Wednesday, the industrial production index increased 3.7 percent from a year earlier to 109.6 points.

The sub-index for the manufacturing sector, which accounts for more than 90 percent of Taiwan's total industrial production, rose 5.67 percent from a year earlier, the sixth consecutive monthly increase.

The department attributed the solid growth in manufacturing production to new products by international brands, such as Apple.

Production of electronics components rose 14.09 percent in October from a year earlier, which was the third-consecutive month of double-digit growth.

The economic department forecast that industrial production will maintain healthy growth for the rest of the year as U.S. and European markets enter the seasonal high season for shopping, which will boost demand for Taiwan's electronic products. Endi