Taiwan Industrial Production Decline Softens; Retail Sales Growth Eases

(RTTNews) - Taiwan's industrial production continued to fall in October, though at the weakest pace in fourteen months, preliminary data from the Ministry of Economic Affairs showed on Thursday.

Separate official data showed that retail sales growth moderated at the start of the final quarter.

Industrial production fell 2.32 percent year-on-year in October, slower than the revised 6.93 percent slump in the previous month.

Among the main sectors, mining and quarrying output declined the most, by 9.62 percent annually in October, followed by that of electricity and gas segments with a 7.22 percent fall.

Meanwhile, the output produced in the manufacturing sector fell only 1.93 percent in October, compared to a 7.19 percent sharp decrease in September.

On a month-on-month basis, industrial production rose a seasonally adjusted 3.37 percent from September, when it advanced by 0.56 percent.

Another report from the statistical office showed that retail sales climbed 5.07 percent annually in October, following a 6.94 percent gain in the prior month.

Sales of pharmaceuticals, medical goods, and cosmetics in specialised stores grew 6.22 percent, while those of food, beverages, and tobacco in specialised stores increased only 1.99 percent, and the growth eased considerably from 19.12 percent in September.