Industrial output rose by a faster-than-expected 8.4 percent annually last month as improving global economic conditions boosted shipments of consumer electronics products, the Ministry of Economic Affairs said yesterday.
The industrial index increased to 119.65, ending three consecutive months of declines, ministry statistics showed.
On a monthly basis, industrial output increased 7.29 percent last month, compared with a 10.88 contraction in January.
“The 8.4 percent annual growth for last month was higher than the ministry’s expectations of 5 to 6 percent annual growth,” Huang Ji-shih (黃吉實), director-general of the ministry’s statistics department, told a press briefing.
A stabilizing global economy helped lift the nation’s industrial output, led by the manufacturing sector, Huang said.
Manufacturing output, which accounts for more than 90 percent of the nation’s total factory output — including electronics, chemicals, machinery, food and textiles — jumped 8.22 percent year-on-year last month.
Electronic components, which account for about one-quarter of manufacturing output, saw output rose 0.95 percent last month after three months of decline.
Computer and optical products surged 29.49 percent after falling for four straight months, bolstered by strong demand for new smartphones and tablet products, as well as the positive effect of the annual Mobile World Congress.
Several domestic flat-panel makers reported receiving a slew of rush orders in the first quarter, Huang said, adding that media reports that sentiment in the semiconductor sector had shown signs of a recovery were borne out by the manufacturing data.
The output of chemical materials expanded 3.33 percent last month, ending 11 consecutive months of declines, while basic metals saw production increase 3.57 percent.
For this month, Huang said the ministry expects output to continue to grow from last month as worries over the eurozone crisis subsides and the US economy recovers.
However, on an annual basis, output is expected to decline by 8 to 9 percent given a high comparison base last year.
Separately, the ministry released domestic commercial trade figures for last month.
Total revenue for the wholesale, retail and food and beverage sectors was NT$1.11 trillion (US$37.35 billion), up 6.33 percent from the year before.
The increase mainly came from wholesale trade, which rebounded 7.96 percent last month to NT$785.1 billion. Retail trade posted a 2.97 percent rise to NT$289.1 billion.
In contrast, food and beverages slipped 1.4 percent to NT$30.9 billion, statistics showed.
On a monthly basis, total revenue for the wholesale, retail and food and beverage sectors dropped 1.85 percent last month.
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