Manufacturing output in Q1 declines 13.59 percentGLOOMY FORECAST: The outlook would be weighed by global inflation and monetary tightening, as well as the conflict in Ukraine and US-China technology disputesBy Chen Cheng-hui / Staff reporterThe nation’s manufacturing output in the first quarter fell 13.59 percent year-on-year to NT$4.22 trillion (US$137.7 billion), as slowing global trade, weakening demand and ongoing inventory adjustments dragged down manufacturers’ capacity utilization, the Ministry of Economic Affairs said in a statement yesterday. In the electronic components industry — the manufacturing sector’s most important segment — output decreased 16.85 percent to NT$1.25 trillion last quarter, ending 13 consecutive quarters of annual increases since the fourth quarter of 2019, ministry data showed. In addition, LCD panel makers reported declining output due to weakening demand for new applications and falling prices compared with a year earlier. As a result, production value last quarter decreased 46.52 percent to NT$108.8 billion, it said. The automobile and vehicle parts industry’s output grew 3.39 percent year-on-year last quarter, as some new car models sold well and a shortage of components eased, it said.

Source: Taipei Times May 30, 2023 03:30 UTC