TAIPEI (TVBS News) — Taiwan's Ministry of Economic Affairs reported on Monday (Oct. 23) that the Industrial Production Index (IPI) for September was 89.60, indicating a 6.72% decrease from the same month last year.
The manufacturing industry saw an annual decline rate of 7.01%, resulting in 16 consecutive months of negative growth. However, the downturn is gradually showing signs of improvement.
With the anticipated launch of new consumer electronic devices by international brands and high-demand stockings for the holiday season from European and American markets, Taiwan's manufacturing sector is expected to receive support. An improvement in the manufacturing production index is anticipated for October.
Nevertheless, due to the global economic growth slowdown and persistently depressed terminal demand, this year's stocking for electronic products remains below last year's levels.
As a result, it's unlikely that the manufacturing production index will turn positive in the fourth quarter of this year. The global economy, influenced by fluctuations in inflation and escalating geopolitical risks, could potentially hinder global economic recovery.
It's crucial to closely monitor the situation and respond appropriately to prevent any adverse impact on Taiwan's manufacturing growth.
