Taiwan's Ministry of Economic Affairs (MOEA) reported that the country's industrial production index posted an annual increase of 3.05% in March, according to China Times on April 24. Manufacturing sector, which climbed up 2.74% in the first quarter of 2014, has seen an uptick in three quarters in a row. MOEA said that the release of new mobile phones and cheaper commodities, together with the stockpile at distribution channels for the May Day holidays in China, will continue to fuel the growth in electronic components and mechanical products. The IC (integrated circuit) sector, in particular, surged 15.65% year on year—the highest among all electronic components in March.