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February industrial production declines from previous month

February industrial production declines from previous month

Taipei, March 23 (CNA) Taiwan's industrial production for February shrank month-on-month because of the decreased number of workdays due to the Lunar New Year holiday, the Ministry of Economic Affairs (MOEA) said Monday. In February, the industrial production index dropped 16.26 percent from the previous month to 91.21, the MOEA cited statistics as showing. Compared with the level of the same month of last year, the index posed a growth of 3.32 percent, according to the statistics. The sub-index for the manufacturing sector, which accounts for more than 90 percent of local industrial production, rose 3.55 percent from a year earlier, while that of mining and quarrying increased 9.36 percent, that of the electricity and fuel supply segment declined 9.73 percent, and that of the water supply sector increased 1.96 percent. The sub-index for the construction segment surged 40.57 percent. The combined industrial production for the first two months of the year grew 5.59 percent compared with the same period of last year, while that of the manufacturing sector rose 6.5 percent year on year, said Yang Kuei-hsien (???), deputy director-general of the MOEA's Department of Statistics. Yang said he expects growth in the first-quarter industrial production thanks to the constant release of new mobile communication devices, prompting the semiconductor, mobile device production and optoelectronics sectors to continue to increase their outputs. However, drops in steel prices and adjustments of crude oil prices in the international market could affect Taiwan's steel and petrochemical outputs in the near future, Yang warned. (By Milly Lin and Elizabeth Hsu)


Updated : 2021-07-28 12:47 GMT+08:00