Taipei, Dec. 23 (CNA) Taiwan’s industrial production index for November rose 31.46 percent year-on-year, growing for the third consecutive month, the Ministry of Economic Affairs (MOEA) reported Wednesday.

The industrial production index stood at 108.78 in November — representing the highest year-on-year growth since August 1978– an increase that the MOEA attributed to the low base last year and the recovery of the global economy.

Production in the motor vehicle and parts industry increased the most, at 71.69 percent, while chemical material production rose 63.45 percent, and electronic parts and components climbed 60.96 percent, the statistics show.

MOEA Statistics Department Director-General Huang Chi-shi attributed the sharp growth in the auto industry to rebounding consumer demand. The number of vehicle registrations in November rose to 31,000 — more than 140 percent higher than 13,000 for the same month last year, he noted.

Huang forecast that the auto industry will continue to grow in December, as the current commodity tax reduction on auto purchases will expire at the end of this year.

Although industrial production in December is expected to show steady growth, the MOEA estimates that the rate for the year will be between -8 percent and -9 percent, Huang said. (By Ye-fong Lin and Fanny Liu)

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