Financial News: Taiwan Industrial Output Growth Eases; Retail Sales Reboun

Taiwan Industrial Output Growth Eases; Retail Sales Rebound

(RTTNews) - Taiwan's industrial production growth moderated for the first time in four months in February, while retail sales increased sharply, separate reports from the Ministry of Economic Affairs showed on Tuesday.

Industrial production expanded 17.83 percent year-on-year in February, much slower than the 27.88 percent growth in January.

Among sectors, mining and quarrying production logged a renewed annual contraction of 14.94 percent versus an 8.04 percent rise in January. A 10.27 percent fall in utility production also drove the overall slowdown in industrial production. Data showed that manufacturing growth softened to 19.64 percent from 29.70 percent.

Monthly, industrial production recovered a seasonally adjusted 3.47 percent after falling 0.58 percent in January.

Retail sales climbed 7.73 percent yearly in February, in contrast to a 3.42 percent decline in January.

Sales of textiles and clothing in specialized stores grew 27.30 percent, and those of food, beverages, and tobacco in specialized stores expanded 20.06 percent. Sales at general merchandise stores also advanced sharply by 22.92 percent.

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