Factory Slump Hits Taiwan as March Industrial Output Plummets | /CIG/ Telegram | Counter Intelligence Global

Factory Slump Hits Taiwan as March Industrial Output Plummets

Taiwan’s industrial production plunged in March, weighed down by a manufacturing sector struggling to overcome a slump in global demand.
Industrial output shrank 14.5% last month compared to a year ago, the Economics Ministry said in a statement Monday. Economists surveyed by Bloomberg had forecast a 12.3% drop.

March’s decline was the biggest contraction since May 2009 — in the direct aftermath of the global financial crisis — for any month other than January and February.

While output in the electricity sector also shrank, the main drag was from Taiwan’s increasingly idle factory floors. Manufacturing production fell 15.2%. Taiwan Semiconductor Manufacturing Co., the economy’s largest company, foreshadowed the news in its first-quarter earnings call last week, saying lower capacity utilization had weighed on its gross margin.

Taiwan’s chip output declined 18.9% in March, the Economics Ministry data show. 

https://www.bloomberg.com/news/articles/2023-04-24/factory-slump-hits-taiwan-as-march-industrial-output-plummets

https://archive.ph/fgmEB