Financial News: Taiwan Industrial Output Rebounds, Retail Sales Growth Eas

Taiwan Industrial Output Rebounds, Retail Sales Growth Eases Sharply

04/23/2024 - 04:33:00 (RTTNews)

(RTTNews) - Taiwan's industrial production expanded in March after falling in the previous month, preliminary data from the Ministry of Economic Affairs showed on Tuesday.

Separate official data showed that retail sales expanded at a slower pace at the end of the first quarter.

Industrial production climbed 3.99 percent year-on-year in March, reversing a revised 1.31 percent fall in February.

Among the main sectors, manufacturing output recovered strongly by 4.01 percent annually in March, and utility sector production grew by 4.28 percent. In contrast, mining and quarrying output showed a further sharp decline of 11.63 percent.

On a month-on-month basis, industrial production dropped a seasonally adjusted 0.81 percent from February, when it rose by 3.33 percent.

Another report from the statistical office showed that annual retail sales growth eased markedly to 0.71 percent in March from 9.33 percent in the prior month.

Sales of food, beverages, and tobacco in specialised stores decreased by 2.76 percent, while sales growth in textiles and clothing in specialised stores moderated considerably to 5.5 percent from 24.2 percent.

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