Taiwan Industrial Output Grows Strongly; Retail Sales Fall Further

(RTTNews) - Taiwan's industrial production continued to expand sharply in July, while retail sales decreased for the fourth successive month, separate reports from the Ministry of Economic Affairs showed on Tuesday.

Industrial production advanced 18.11 percent yearly in July, following an 18.32 percent growth in June.

Among the main sectors, the annual growth of manufacturing output eased marginally to 19.55 percent from 19.87 percent, while the decline in mining and quarrying production deepened to 15.66 percent from 8.56 percent. Data showed that the electricity and gas supply segment logged a decline of 7.70 percent versus 9.81 percent a month ago.

On a month-on-month basis, industrial production fell a seasonally adjusted 1.40 percent from July, when it decreased by 4.19 percent.

Another report from the statistical office showed that retail sales fell 3.63 percent yearly in July, after a 2.86 percent decrease in the prior month.

Sales of textiles and clothing at specialized stores declined 4.57 percent from last year, while the sales growth in food, beverages, and tobacco in specialized stores accelerated to 9.84 percent from 7.72 percent.