Reported 8 months ago
The Ministry of Economic Affairs in Taiwan announced on June 24, 2024, that the industrial production and manufacturing indices for May showed a shift to negative growth in the machinery equipment industry and the automotive sector and its components. This was attributed to varying degrees of destocking downstream leading to unstable long-term demand and reduced production levels in the automotive industry due to destocking differences among European and American customers. Despite this, semiconductor expansion helped offset some of the decline in production equipment and components, while the electric car segment in the automotive industry saw increased production. The deputy director of the statistical bureau at the Ministry of Economic Affairs analyzed that the machinery and automotive parts industries have been fluctuating around the breakeven point this year, with the semiconductor sector showing faster recovery and strong investment momentum.
Source: YAHOO