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Financial News: Taiwan Industrial Production Growth Slows, Jobless Rate Fa

Taiwan Industrial Production Growth Slows, Jobless Rate Falls

08/24/2020 - 05:50:00 (RTTNews)

(RTTNews) - Taiwan's industrial production rose at a softer pace in July and the unemployment rate fell marginally during the month, official figures showed on Monday.

Industrial production rose 2.65 percent year-on-year in July, after a 7.19 percent increase in June, data from the Ministry of Economic Affairs showed.

Manufacturing output increased 2.64 percent annually in July, after a 7.63 percent rise in the previous month.

Production in mining and quarrying gained 11.45 percent. Output of electricity and gas supply, and water supply grew 1.54 percent and 1.50 percent, respectively.

On a monthly basis, industrial production declined 0.25 percent in July, after a 1.35 percent increase in the preceding month.

Data from the Directorate General of Budget, Accounting and Statistics showed that the unemployment rate fell to a seasonally adjusted 3.90 percent in July from 3.97 percent in the prior month.

On an unadjusted basis, the jobless rate rose to a non-adjusted 4.00 in July from 3.96 percent in June.

The number of unemployed persons increased to 479,000 in July from 473,000 in the previous month.

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