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Financial News: Taiwan Industrial Production Growth Slows In May

Taiwan Industrial Production Growth Slows In May

06/23/2020 - 07:46:00 (RTTNews)

(RTTNews) - Taiwan's industrial production growth eased in May, data from the Ministry of Economic Affairs showed on Tuesday.

Industrial output climbed 1.51 percent year-on-year in May, after a 4.22 percent rise in April. The pace of growth was the weakest since January, when output declined.

Among the industrial divisions, mining and quarrying output grew 10.72 percent yearly in May. Manufacturing output gained 1.68 percent, slower than the 4.92 percent rise a month ago.

Meanwhile, electricity and gas supply fell 1.63 percent and water supply decreased 0.10 percent.

On a monthly basis, industrial production fell 0.90 percent and manufacturing output rose 1.16 percent in May.

Separate data from the statistical office showed that the retail sales fell 5.82 percent annually in May, following a 10.24 percent decline in April. This was the fourth consecutive fall in sales.

Wholesale trade declined 6.8 percent in May and sales of food and beverages trade decreased 8.7 percent.

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