BETTER AHEAD?A survey by the Ministry of Economic Affairs showed that growth is expected to pick up amid inventory buildups prior to new product launches
Date: May 24, 2017
By: Lisa Wang / Staff reporter
Industrial production posted its first annual contraction in nine months last month as weaker-than-expected growth in the manufacturing sector failed to make up for a nosedive in electricity output, the Ministry of Economic Affairs said yesterday.
Industrial output last month fell 0.59 percent from a year earlier, dragged by a 30 percent annual decline in the electricity sector after Taiwan Power Corp (台電) shut down two nuclear reactors, the ministry said.
The results were disappointing, as the ministry had anticipated a 7 percent annual growth.
The manufacturing sector, a pillar of the nation’s industrial output, posted tepid growth in output of 0.79 percent year-on-year last month, marking the slowest pace in about a year, due to inventory correction, the ministry said. [FULL STORY]