Industrial production posts contraction

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

Taiei Times
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]

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