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Taiwan's industrial production grows for 4th consecutive month in November

Updated: 12 26 , 2016 14:58
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TAIPEI, Dec. 23 -- Industrial production in Taiwan grew for fourth month in a row in November as the year-end shopping spree pushed up demand for electronic components.

The industrial production index increased at an annual rate of 8.83 percent from a year earlier to 111.27 points, according to data released by the island's economic department on Friday.

Year-end shopping spree in western countries and stock build-up for the Chinese Lunar New Year boost demand for Taiwan-made products, the department said.

With the Internet of things, cloud service and other novel technology getting popular, demand for Taiwan-made electronic components stay brisk. Industrial production is also buoyed by launch of new cars, it said.

Taiwan's economy is coming out of doldrums as export and manufacturing pick up.

Taiwan's major think tanks expected the island's economy to grow above one percent in 2016, a breakthrough from slimmer growth or even contraction in the past years.

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