Taiwan Industrial Output Growth Eases; Retail Sales Recover

(RTTNews) - Taiwan's industrial production continued to expand strongly but at a slower pace in August, while retail sales increased for the first time in four months, separate reports from the Ministry of Economic Affairs showed on Wednesday.

Industrial production advanced 14.4 percent yearly in August, slower than the 18.7 percent growth in July.

Among the main sectors, the annual growth of manufacturing output eased to 15.5 percent from 20.2 percent, while the decline in mining and quarrying production moderated to 12.8 percent from 13.9 percent. Data showed that the electricity and gas supply segment logged a decline of 4.5 percent versus 7.6 percent a month ago.

On a month-on-month basis, industrial production fell a seasonally adjusted 0.55 percent from July, when it decreased by 0.72 percent.

Another report from the statistical office showed that retail sales rose 0.4 percent yearly in August, reversing a 3.6 percent decrease in the prior month.

Sales at general merchandise stores grew 2.9 percent from last year, and sales of cultural and recreation goods in specialized stores were 9.17 percent higher. Meanwhile, textiles and clothing in specialized stores dropped 2.9 percent.