Financial News: Taiwan Industrial Production Plummets Further; Retail Sale

Taiwan Industrial Production Plummets Further; Retail Sales Growth Eases Slightly

05/23/2023 - 04:55:00 (RTTNews)

(RTTNews) - Taiwan's industrial production continued to decrease sharply at the beginning of the second quarter, mostly driven by a plunge in manufacturing output, preliminary data from the Ministry of Economic Affairs showed on Tuesday.

Separate official data showed that retail sales growth eased for the first time in three months in April.

Industrial production fell 22.86 percent year-on-year in April, which was worse than the revised 16.03 percent decrease in the previous month. Production has been falling since June last year.

Among the main sectors, manufacturing output declined the most, by 23.52 percent annually in April, followed by the electricity and gas supply segment with a 12.02 percent fall.

On the other hand, mining and quarrying output grew marginally by 0.66 percent in April compared to last year.

On a month-on-month basis, industrial production slid a seasonally adjusted 5.09 percent from March, when it dropped by 1.16 percent.

Another report from the statistical office showed that retail sales advanced 7.50 percent annually in April, slightly below the 7.63 percent gain in the prior month.

Sales of textiles and clothing in specialized stores grew markedly by 29.37 percent yearly in April, which was only 1.27 percent in March.

Meanwhile, sales of food, beverages, and tobacco in specialized stores logged an annual decrease of 2.0 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Japan Overall Bank Lending Rises 3.4% On Year In May (19 min(s), 48 sec(s) ago)
(RTTNews) - Overall bank lending in Japan was up 3.4 percent on year in May, the Bank of Japan sai ...Full Story»

Japan GDP Climbs 0.7% On Quarter In Q1 (04 min(s), 48 sec(s) ago)
(RTTNews) - Japan's gross domestic product expanded a seasonally adjusted 0.7 percent on quart ...Full Story»

Japan GDP Data Due On Thursday (09 min(s), 48 sec(s) ago)
(RTTNews) - Japan will on Thursday release Q1 numbers for gross domestic product, highlighting a m ...Full Story»

Japan Leading Index At 5-Month High (34 min(s), 48 sec(s) ago)
(RTTNews) - Japan's leading index strengthened in April to reach its highest level in five-mon ...Full Story»

Brazil's Inflation Eases To 3.94%, Lowest In 31 Months (26 min(s), 48 sec(s) ago)
(RTTNews) - Brazil's consumer price inflation eased further in May to reach its lowest level i ...Full Story»

Bank Of Canada Resumes Raising Interest Rates (23 min(s), 48 sec(s) ago)
(RTTNews) - After leaving interest rates unchanged for two straight meetings, the Bank of Canada o ...Full Story»

Estonia Inflation At 16-month Low (16 min(s), 48 sec(s) ago)
(RTTNews) - Estonia's consumer price inflation eased for the fourth straight month in May to t ...Full Story»

U.S. Trade Deficit Widens Significantly As Exports Slump, Imports Jump (55 min(s), 48 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed the U.S. trade defici ...Full Story»