Business revenues rise in Nov., hit record high
By John Liu, The China Post
December 24, 2013, 12:14 am TWN
Business revenues totaled NT$1.2049 trillion in November, which represents a 2.3-percent increase year-on-year as well as a record high when compared with the same periods in pervious years.
The Ministry of Economic Affairs (MOEA) yesterday released business sales data for November.
Sales in the wholesale sector hit the second highest figure in history, while the retail and food and beverage sectors both hit new records compared with the same period in previous years.
Business revenues were shown to have grown for three consecutive months. “Business revenues totaled NT$13.0505 trillion between January and November, which was about the same level compared with last year; as such, we may expect positive growth in business revenues for the whole year,” said MOEA Department of Statistics Deputy Director General Yang Kuei-hsien (楊貴顯).
New car sales and annual promotions at department stores helped boost sales, according to the MOEA. With the Christmas and New Year shopping season approaching in December, the MOEA expects business revenues in December to surpass that in November.
In addition, new car sales continue to increase, contributing to 0.9-percent and 5.5-percent growths in the wholesale and retail sectors, respectively.
Sales of general merchandise reached NT$93.9 billion in November, of which annual sale promotions at department stores accounted for a significant percentage. Sales at department stores rose more than 10 percent year-on-year.
Thanks to the Christmas season and an increase in wedding ceremony bookings, business revenues in the food industry reached NT$31.3 billion in November, a 4.6-percent increase year-on-year.
“As the Chinese New Year will occur at the end of January next year, merchants are expected to launch their sales earlier than last year. In addition, car dealers are pushing for year-end sales to attract business, sales of winter clothes jumped, and new handheld devices hit the market. With the Christmas and New Year holiday season, we expect sales in cars, clothes, food, and consumer electronics products to grow, and sales in December are expected to outgrow those in November,” Yang said.
Industrial Output Drops 0.12 Percent
The MOEA also released November industrial production data yesterday. Due to a slowing of 22.6 percent in the construction sector in November, industrial production dropped by 0.12 percent year-on-year.
The manufacturing sector grew 0.5 percent. According to the MOEA, computer electronics and optical product production levels declined 12.68 percent compared with a year ago.
Fierce competition forced a tapering in production of handheld devices in November. In addition, demand for vehicle-based GPS equipment also declined. With excessive inventory in the market, production of TV sets and camera-related products also declined. Yang said that domestic cellphone production dropped by 30-40 percent in November.
Production of information and communication technology products, machinery equipment and non-tech traditional products declined as well.
On the positive side, major brands continued to launch consumer electronics products, supporting production momentum in semiconductor and optical equipment-related industries and services. In addition, as they completed annual maintenance work, the output of petrochemical companies increased as a result. With steel companies setting up new production facilities and heavy promotion by car dealers, production showed signs of improvement.