Taiwan's industrial production increased from last year in August, defying economists' forecast for a modest decline, data released by the Ministry of Economic Affairs showed Monday.
Industrial production increased 1.89 percent on an annual basis in August, while economists were looking for a 0.44 percent contraction.
Production in the manufacturing sector increased 1.8 percent annually, while mining and quarrying output rose 6.04 percent. Meanwhile, output of electricity and gas was lower by 0.03 percent from a year earlier, and water supply by 1.87 percent.
Month-on-month, industrial production moved up a seasonally adjusted 0.23 percent in August. In the eight months ended August, production declined 1.98 percent from the corresponding period a year earlier, data showed.
Separately, the agency said Taiwan's commercial sales, which refer to wholesale, retail and catering industry turnover, decreased 1.2 percent year-on-year in August. On a monthly basis, overall sales, on an unadjusted basis, declined 2 percent.
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