World Economy

3rd Production Fall in Taiwan

3rd Production Fall in Taiwan 3rd Production Fall in Taiwan

The ministry of economic affairs said Saturday that Taiwan’s industrial production is likely to show a year-on-year drop in July for the third consecutive month amid a global economic slowdown, Focus Taiwan reported. While the July industrial production figure is expected to improve from June, it is likely to be lower than in July 2014 because of a relatively high comparison base, the ministry said, ahead of its release of the industrial production data on Aug. 24. In June, Taiwan’s industrial production index fell 1.35% from a year earlier to 106.42 in reflection of weakening demand for high-tech gadgets such as smartphones and PCs amid a global economic slowdown. The June figure was 0.02% higher than May. The sub-index for the local manufacturing sector, which accounts for more than 90% of the country’s total industrial production, fell 1.18% from the previous year and 0.41% from a month earlier. Among the various segments in the manufacturing sector, the flat panel industry saw a 6.44% year-on-year drop in production in June.