China semiconductor industry sees weak growth in 3Q08

A recent survey by the China Semiconductor Industry Association (CSIA) pointed out that China's semiconductor industry only saw 1.1% growth in the third quarter of 2008, the slowest rate on record. According to CSIA, China's IC industry maintained double-digit growth at 12.5% in the first quarter of 2008. However, the growth slowed down to 8.3% in the second quarter and further down in the third quarter, CSIA noted.

In Taiwan, its semiconductor industry was also impacted by the economic turmoil in the third quarter, with its production value declining 6.5% on-year, according to the Taiwan-based Industrial Technology Intelligence Services (ITIS).