TAIPEI (TVBS News) — The Taiwan Research Institute (TRI) indicated on Wednesday (Nov. 22) that as the summer peak period for electricity consumption ended, demand for electricity in Sept. has decreased, continuing a trend towards a cautious, yellow-blue light on the overall industrial electricity prosperity index.
The TRI's Oct. Taiwan EPI, a measure of electrical power economic performance, showed that the usage of high voltage electricity across national industries grew by 0.16% compared with the same period in 2022, marking two consecutive months of positive growth in industrial electricity consumption, albeit with a smaller increase than in Sept.
TRI President Wu Tsai-yi pointed out that prolonged global inflation and interest rate hikes, along with ongoing geopolitical crises, have led to persistent weakness in international market demand, contributing to a deceleration in economic growth.
However, the rise of AI applications, the launch of new consumer electronics, and stockpiling for the end-of-year shopping season have resulted in a successful inventory turnover in the domestic electronic technology industry, progressively restoring inventory demand.
The TRI president predicted that despite a slow and weak recovery, the diminishing effects of inflation and interest rate increases suggest a gradual return to normalcy for global economic and business activities.