Retail Sales in Taiwan
Taiwan - Retail SalesEconomic activity picked up in the fourth quarter of 2019, according to revised GDP data, placing annual growth for the year at a similar level to that recorded in 2018. Soaring fixed investment drove the quarterly acceleration, as the government’s pro-growth policies and trade diversion from China spurred a reshoring of capital by domestic companies. However, consumption metrics were less positive in Q4 as a marked decrease in government spending growth more than offset a marginal acceleration in private consumption. Turning to the first quarter of this year, activity looks likely to be severely hampered by the impact of the coronavirus outbreak in China, with Taiwan particularly vulnerable due to its intertwined supply chains and dependence on Chinese tourism and exports. This bodes ill for the manufacturing industry in the first months of year, despite the PMI recently climbing to a 17-month high in January.
Taiwan - Retail Sales Data
|Retail Sales (annual variation in %)||2.8||-1.0||1.1||0.9||2.2|
5 years of economic forecasts for more than 30 economic indicators.
Taiwan Retail Sales Chart
Source: Directorate-General of Budget, Accounting & Statistics and FocusEconomics calculations.
|Bond Yield||0.69||1.28 %||Dec 31|
|Exchange Rate||29.91||0.07 %||Jan 01|
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March 23, 2020
Industrial output flew 20.3% higher in February compared to the same month a year earlier, contrasting the revised 2.1% decrease recorded in January (previously reported: -1.5% year-on-year). The stellar reading in February was helped in no small part by a sizeable base effect, likely influenced by differences in dates of the Chinese Lunar Holiday between this year and the last, as well as being aided by the leap year effect this year.
March 19, 2020
At its monetary policy meeting on 19 March, the Board of Directors of Taiwan’s Central Bank unanimously decided to lower the discount rate by 0.25 percentage points to a record low of 1.125%.
March 9, 2020
Merchandise exports expanded 24.9% in annual terms in February, contrasting January’s 7.5% contraction.
March 6, 2020
Consumer prices decreased 1.08% in February compared with the previous month, contrasting January’s revised 0.61% increase (previously reported: +0.59%).
March 2, 2020
The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, fell to 49.9 in February from 51.8 in January.