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Market Update: Taiwan Retail Sales Growth Slows Sharply in May
Retail sales in Taiwan advanced 2.80 percent year-on-year in May of 2021, following a 18.27 percent jump in the previous month. It was the slowest expansion in retail activity since February, as health authorities rolled back restrictions amid a surge in COVID-19 infections. Sales were most penalized in textiles & clothing (-27.21 percent vs 55.11 percent in April); cultural & recreational goods (-22.90 percent vs 16.94 percent); household appliances & goods (-13.01 percent vs 35.63 percent); and other retail sales in specialized stores (-11.46 percent vs 13.67 percent). At the same time, growth slowed sharply in sales of fuels & related products (25.04 percent vs 54.83 percent); general merchandise (0.38 percent vs 16.69 percent); motor vehicles, motorcycles, related parts & accessories (5.55 percent vs 12.04 percent); and food, beverages & tobacco (0.56 percent vs 5.50 percent). On a monthly basis, retail sales fell 5.78 percent, following a 0.70 percent increase in April. source: Ministry of Economic Affairs, R.O.C. [/s2If]
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