Last quarter’s decline in manufacturing output ended eight consecutive quarters of annual increase, compared with an increase of 3.75 percent in the previous quarter, which the ministry attributed to poor market conditions in traditional industries. In the electronic components industry — the manufacturing sector’s most important segment — output expanded 7.76 percent to NT$1.37 trillion last quarter. However, LCD panelmakers continued to register declining output due to weakening demand for consumer electronics and inventory depletion in the supply chain. Their output grew 17.32 percent year-on-year to NT$296.6 billion, compared with an expansion of 26.54 percent to NT$301.5 billion in the third quarter, it added. However, global inflation and monetary tightening by central banks, as well as the conflict between Russia and Ukraine and US-China technology disputes, could continue to weigh on global economic growth and affect local manufacturing output, the ministry said.

Source: Taipei Times February 20, 2023 16:24 UTC