Taiwan is expected to report the 17th consecutive month of growth in sales posted by the local commercial sector in January. The sector comprises the retail, wholesale, and dining services.
According to the economics ministry on Saturday, the local commercial sector benefited from strong demand in the lead up to the Lunar New Year holiday that fell in mid-February. The ministry also said as a result, the sector could post higher revenue year-on-year in January.
In December, the commercial sector’s sales rose 2.5% year-on-year and 5.7% from a month earlier to NT$1.27 trillion (US$40.32 billion). The December figure was the highest monthly number on record.
The ministry cited a survey as saying that although January commercial sales could fall from December, the figure is expected to grow on a year-on-year basis to post the 17th month of growth in a row.
The ministry said that private consumption has been boosted by a plunge in international crude oil prices, while the improving job market and an increase in wages in Taiwan also gave a boost to the commercial sector.
The ministry is scheduled to report the commercial sales data on Mar. 4.