Energy consumption by the nation’s industrial and service sectors rose last month, ending consecutive months of decline (except for February) since July last year, the Taiwan Research Institute (台灣綜合研究院) said in a report on Monday.
The electricity prosperity index (EPI), which the institute uses to gauge the health of industrial sectors, found that energy consumption rose 1.05 percent from a year earlier, following a 0.92 percent fall in August, the report said.
Due to a lower comparison base last year and booming private consumption last month, high-voltage electricity usage returned to positive territory for a second straight month, with an annual increase of 0.46 percent, the report said.
Photo: CNA
Although electricity usage in the manufacturing industry decreased 0.37 percent, usage by the service industry rose 4.17 percent, it added.
Power usage increased significantly in the semiconductor, optoelectronic materials, computer and electronics, and optical products sectors compared with the same period last year, it said.
Overall, the EPI showed the third “yellow-blue” climate signal in a row last month, indicating a cycle of slowdown is likely coming to an end, it said.
Based on the latest EPI reading and the business climate of the local manufacturing sector, the institute forecast the nation’s GDP grew 2.5 percent year-on-year last month, with GDP in the July-to-September quarter growing 2.2 percent.
The institute’s third-quarter GDP growth estimate is lower than a 2.54 percent increase the Directorate-General of Budget, Accounting and Statistics projected in August, it said.
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