Focus Taiwan
Date: 2018/12/24
By: Liao Yu-yang and Ko Lin

CNA file photo

Taipei, Dec. 24 (CNA) Taiwan’s retail sector performed better than expected in November due to stable growth in domestic demand, stimulated by the Double 11 “shopping festival,” the Ministry of Economic Affairs (MOEA) said Monday.

Nov. 11 is observed as Singles Day, or Double 11 day, an annual online shopping bonanza that originated in China but has since spread worldwide, including Taiwan.

Data compiled by the MOEA shows that retail sales grew 0.4 percent from a year earlier to NT$373.4 billion (US$12.09 billion).

Wang Shu-chuan (王淑娟), deputy head of the MOEA’s statistics department, said the ministry had previously forecast that the retail sector would perform poorly due to a tumble in the local equity market that undermined consumer sentiment in November.    [FULL  STORY]