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Free AccessMNI BRIEF: Taiwan's November Retail Sales Growth Slows To 1.4%
Retail sales in Taiwan grew by 1.4% y/y in November, marking the fifth month the pace of growth has slowed, according to the Ministry of Economic Affairs on Friday.
Growth in sales has dropped significantly from the mid-year consumption boost that saw June and July post 22.5% y/y and 18.1% y/y increases respectively.
Retail sales for November totalled NT$382.7 billion (USD 12.45 billion), with sales from supermarkets and convenience stores up 3.6% and 6.2% respectively, offset by decreases in communications equipment and hypermarkets which declined 8.1% and 3.2% respectively.
Taiwan’s private consumption is predicted to grow by 3.29% in 2022, as COVID-19 restrictions are eased, and employment and wages raises, according to the National Development Council. (SEE MNI BRIEF: Taiwan Unemployment Rate Falls In October - Bonds & Currency News | Market News)
Wholesale trade decreased by 8.3% compared with the same month in 2021, and sales of food and beverages increased by 13.3% y/y.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.