January industrial production index shrinks 1.51 percent

Focus Taiwan
Date:\ 02/24/2020
By: Flor Wang and Wu Po-wei

Taipei, Feb. 24 (CNA) Taiwan's industrial production index for January slid by 1.51 percent year-on-year to 105.58, the Ministry of Economic Affairs (MOEA) reported on Monday.

Of the various sub-indexes, the one for the manufacturing sector, which accounts for more than 90 percent of the total industrial production, contracted 1.28 percent annually, falling to 106.67, MOEA tallies showed.

Despite the decrease, the ministry remains optimistic about the outlook for the country's manufacturing sector, citing the easing of the trade war between the United States and China and the outbreak of the COVID-19 coronavirus.

These two factors have pushed overseas-based Taiwan businesses, mainly those operating in China, to return and invest in the domestic market, providing a boost to the local manufacturing sector, the ministry said.    [FULL  STORY]