Industrial production ends 2-month rising streak in September

Taipei-In the wake of a weakening global economy, Taiwan's industrial production ended a two-month rising streak in September, down 0.75 percent from a year earlier, the Ministry of Economic Affairs (MOEA) said Wednesday.

The MOEA said the old economy sector felt the hardest pinch resulting from falling global demand, while the high tech industry continued to ride a wave of solid buying caused by the launch of new devices by international brands, which capped the downturn in overall production in September.

Data compiled by the MOEA shows that the industrial production index for September fell 0.75 percent from a year earlier to 110.71 after a 2.35 percent year-on-year increase in August and a 3.77 percent rise in July.

The sub-index of the manufacturing sector, which accounted for more than 90 percent of Taiwan's total industrial production, also dropped 0.65 percent from a year earlier to 111.10, according to the data.

According to the MOEA, the increase in industrial production for July and August resulted mainly from strong demand for tech devices.

As a result, industrial production for the third quarter rose 1.77 percent from a year earlier to 113.15, a quarterly high, while the sub-index for the manufacturing sector also rose 1.79 percent to 113.10, the MOEA said.

Source: Focus Taiwan News Channel