SLOW SEASON: Inventory adjustments and cooling demand for cryptocurrency miners were the main factors behind last month’s decline, an economics ministry official said

Taipei Times
Date: Apr 24, 2019
By: Natasha Li  /  Staff reporter

Industrial production last month fell 9.88 percent from a year earlier, dragged mainly by weakness in the electronic components industry amid a slow sales season, the Ministry of Economic Affairs said yesterday.

Industrial output declined 4.58 percent last quarter from a year earlier, with a 4.8 percent drop in the electronic components industry, the ministry said in a report.

Electronics suppliers saw a 14.92 percent retreat in output last month, the steepest since May 2009, it said.

Inventory adjustments and cooling demand for cryptocurrency miners were the main factors leading to the decline, which might not improve until next quarter, the ministry said.    [FULL  STORY]