TAIPEI, June 24 (Xinhua) -- Taiwan's Industrial Production Index witnessed its first year on year decline, according to data released by the island' s economic authority on Wednesday.
The Industrial Production Index, an indicator used to measure the real production output of key sectors, totaled 106.71 points in May, representing a year on year decrease of 3.18 percent.
Manufacturing, the index heavyweight, registered a drop of 2.57 percent from the same month last year, but expanded 3.53 percent year on year in the first five months of this year.
The economic authority predicts a continued decline for the island's manufacturing sector in June, as a result of the readjustment of the steel market, weaker consumption, and continued influence by clients' inventory adjustments in the semiconductor sector.
