Chip shortage slows vehicle manufacturing output
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The output of vehicle manufacturing, an engine of industrial growth under normal circumstances, fell 33.7% year-on-year in August as the global semiconductor shortage impacted factories, according to a second reading of data released by the Central Statistical Office (KSH).
The decline in output of automotive industry companies, which accounted for 17% of total manufacturing output in August, accelerated from a 6.7% drop in July.
The computer, electronics, and optical equipment segment, accounting for 12% of manufacturing, slipped 3.7% in August. Output of the food, drinks, and tobacco segment, which contributed 14% of manufacturing sector output, increased 10.6%.
KSH confirmed that headline industrial output rose 2.6%.
Adjusted for the number of workdays, output edged up 0.6%.
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