The nation’s industrial production index last month climbed 8.53 percent year-on-year to a record high of 102.94, roundly beating the government’s forecast of 5 percent on the back of robust demand for electronic components, the Ministry of Economic Affairs said yesterday.
The index gauges output in the nation’s five main industries: manufacturing, mining and quarrying, electricity and gas supply, water supply and architectural engineering.
The manufacturing production index, which accounts for about 92 percent of total industrial production, last month rose 9.07 percent annually to set a record of 103.52, the ministry said.
“Among the manufacturing industries, electronics component suppliers made the most significant contribution,” Department of Statistics Deputy Director-General Wang Shu-chuan (王淑娟) told a news conference in Taipei.
The electronics sector, which makes up nearly 30 percent of the nation’s manufacturing, last month jumped 18.51 percent from a year earlier, due mainly to rising demand for semiconductors and flash memory products.
The value of machinery output grew 9.59 percent annually, supported by continued demand for key components used in automated equipment, such as linear guideways and ball screws, ministry data showed.
Chemical goods production last month gained 6.51 percent from a year earlier, as businesses began to build up inventories amid rising international crude oil prices.
Bucking the overall upward trend, the automotive sector fell 6.04 percent annually, which the ministry attributed mainly to some global car brands’ plans to reduce the manufacturing of new models.
The ministry expects the manufacturing production index to rise 3 percent year-on-year this month.
WHOLESALE REVENUES UP
In a separate release, the ministry said that wholesale sector revenues last month rose 2.8 percent annually to NT$808 billion (US$26.97 billion), driven by increasing sales of machinery and steel products.
The latest data showed that revenue in the retail sector last month grew 3.6 percent annually to NT$340.1 billion, while sales in the restaurant and beverage sector increased 4.2 percent to NT$37.4 billion.
The ministry said it expects revenue in the wholesale sector to increase 1.5 percent annually, adding that the retail sector might see revenue grow 2.5 percent from a year earlier.
The optimistic forecast is due partly to an uptrend in raw material prices, which would boost product prices, it said.
Revenue generated by local food and beverage providers is expected to grow 4 percent this month, the ministry added.
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