Taiwan’s industrial production index for last month rose 31.46 percent year-on-year, growing for the third consecutive month, the Ministry of Economic Affairs (MOEA) reported on Wednesday.
The industrial production index stood at 108.78 last month — representing the highest year-on-year growth since August 1978 — an increase that the ministry attributed to the low base last year and the recovery of the global economy.
Production in the motor vehicle and parts industry increased the most, at 71.69 percent, while chemical material production rose 63.45 percent, and electronic parts and components climbed 60.96 percent, the statistics show.
MOEA Statistics Department Director-General Huang Chi-shi (黃吉實) attributed the sharp growth in the auto industry to rebounding consumer demand.
The number of vehicle registrations last month rose to 31,000 — more than 140 percent higher than the 13,000 for the same month last year, he said.
Huang said that the automobile industry would continue to grow this month, as the current commodity tax reduction on auto purchases will expire at the end of this year.
Although industrial production this month is expected to show steady growth, the ministry estimates that the rate for the year will likely show a negative growth of between 8 percent and 9 percent, Huang said.
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