The nation’s industrial production last month rose from a year earlier, marking the sixth consecutive month of gains amid solid global demand, Ministry of Economic Affairs data showed yesterday.
The critical economic index last month grew 3.37 percent monthly and 1.33 percent annually to 112.96, the ministry said in its monthly report.
The industrial production index posted its second-highest reading and its 27th consecutive monthly gain, it said.
The manufacturing index, which accounted for 90 percent of total industrial output, rose 3.75 percent sequentially and 1.85 percent annually to 112.95, the report found.
Overall, the manufacturing index for electronic components rose 3.75 percent sequentially and 1.96 percent annually to 115.23, the data showed.
Integrated circuits, a major component of the nation’s export-oriented high-tech manufacturing sector, posted slower-than-expected growth of 1.05 percent annually to 114.65, marking its lowest pace this year, while monthly growth reached 10.13 percent, ministry data showed.
The slower growth was due to a computer virus attack at Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) early last month, which disrupted production at the world’s largest chipmaker, Department of Statistics Deputy Director-General Wang Shu-chuan (王淑娟) told a news conference.
The poor showing also had to do with the high base of comparison last year, Wang said, adding that growth momentum remains stable for the nation’s integrated circuit industry.
LCD displays and modules dipped 3.1 percent annually, but inched up 0.14 percent monthly to 122.2 percent, due to waning demand for small-to-medium-sized panels, ministry data showed.
Expectations of rising demand from technology manufacturers, in particular those in the semiconductor industry, have led to gains in the machinery and automation equipment index, the ministry said.
Driven by strong demand, the machinery index rose 4.82 percent annually to 122.19, but dipped 0.37 percent from a month earlier, it said.
Wang forecast a 2 percent increase in the manufacturing index for this month as mobile devices enter the peak sales season.
She said that the growth rate might be muted due to the smaller number of working days this month on account of the Mid-Autumn Festival holiday.
Production in the base metal industry increased 3.84 percent from a year earlier on rising demand for steel, while production in the auto and auto parts industry fell 11.55 percent due to Ghost Month, during which consumers usually avoid buying big-ticket items, such as cars and homes, on the belief that it will bring bad luck.
Additional reporting by CNA
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and