TAIPEI, Nov. 20 (Xinhua) -- Taiwan's manufacturing output contracted 7.01 percent year on year last quarter, dropping for the third straight quarter, according to the local economic affairs authority.
The output shrank to 3.37 trillion new Taiwan dollars (about 110.46 billion U.S. dollars), according to the authority, who pointed to sluggish global economic growth and weakening demand in traditional industries as among the causes.
The decline was led by the electronics components industry, a pillar of the island's manufacturing sector, which slid 3.81 percent to 940.6 billion new Taiwan dollars, data showed.
LCD production declined 20.92 percent as the market remained oversaturated due to increasing supply from the Chinese mainland, the authority said.
However, an increase in chip production as companies build inventory ahead of new product launches helped cushion the fall, it added.
The island also saw chemical materials output and base metal output in the third quarter fall by 23.95 percent and 13.41 percent, respectively.
Taiwan's manufacturing output shrank by 4.95 percent and 4.57 percent year on year in the first and the second quarter of 2019, respectively.