NO SALE:Commercial sales in the nation fell by 4.4 percent year-on-year last month, the single largest drop in the past 29 months, due to revenue woes in the retail sector
Date: Aug 25, 2015
By: Lauly Li / Staff reporter
Taiwan’s industrial production index dropped for a third consecutive month, last month and is expected to face another annual decline this month as there is no growth catalyst, the Ministry of Economic Affairs said yesterday.
The industrial production index fell by 2.99 percent annually to 109.16 last month, mainly due to slowing growth in the semiconductor industry and falling output in the machinery industry because of soft global economic growth, the ministry said.
“As negative factors persist, the ministry expects this month’s industrial production output to drop by 2 percent to 3 percent from a year ago,” Department of Statistics Deputy Director-General Yang Kuei-hsien (楊貴顯) told a news conference. [FULL STORY]