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

Taiwan Industrial Production Growth Slows, Jobless Rate Falls

11/23/2020 - 05:59:00 (RTTNews)

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

Industrial production rose 7.06 percent year-on-year in October, after a 11.62 percent increase in September, data from the Ministry of Economic Affairs revealed.

Manufacturing output increased 7.63 percent annually in October, after a 12.24 percent rise in the previous month.

Production in mining and quarrying gained 3.49 percent. Output of electricity and gas supply, and water supply grew 0.62 percent and 1.58 percent, respectively.

On a monthly basis, industrial production declined 0.56 percent in October, after a 2.82 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 3.77 percent in October from 3.78 percent in September.

On an unadjusted basis, the jobless rate rose to a non-adjusted 3.80 in October from 3.83 percent in the prior month.

The number of unemployed persons decreased to 455,000 in October from 458,000 in the previous month.

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