Sales in the food and beverage sector last year rose 18.8 percent from a year earlier to NT$1.03 trillion (US$32.9 billion), the highest ever, with sales last month expanding for the 20th consecutive month, the Ministry of Economic Affairs said on Tuesday.
Last month’s sales increased 7.5 percent to NT$94.1 billion from a year earlier as restaurants and beverage outlets benefited from holiday consumption, special sales promotions and new brand launches, the ministry said in a report, adding that catering services were boosted by demand for in-flight meals as airlines increased flights.
The sector is expected to perform well this month during the high season for corporate gatherings, but sales might be lower than a year earlier due to a high comparison base, the ministry said, adding that sales are projected to fall by 3.2 percent to 6.2 percent annually.
Photo: CNA
Meanwhile, sales in the retail sector last year rose 6.9 percent year-on-year to NT$4.58 trillion, also the highest on record, as they increased last month for the 28th consecutive month, the report showed.
Last month’s sales rose 1.1 percent to NT$407.5 billion, but the pace of growth was slower than the previous month’s 7.2 percent and also missed the ministry’s estimate of 2.8 percent to 5.8 percent due to weaker purchasing of general merchandise and vehicles, as well as falling demand for clothes and consumer electronics, it said.
The ministry expects the retail sector’s growth momentum to persist this month thanks to strong consumer spending ahead of the Lunar New Year holiday, with sales estimated to grow 0.3 to 3.3 percent annually, it added.
As for the wholesale sector, sales last year totaled NT$11.77 trillion, the third-highest on record, but the number dropped 7.3 percent from a year earlier and marked the second-largest annual decrease ever, the report said.
As the sector’s sales last month were down 2.4 percent from a year earlier and its outlook is linked to external demand, with no signs of an immediate demand recovery for machinery equipment, building materials and chemical goods, the ministry expects sales this month to be lower than last month as it is a low season for consumer electronics, it said.
However, sales this month might be higher than a year earlier due to increasing demand for artificial intelligence applications and more working days, rising by 2.4 percent to 5.4 percent annually, the ministry said.
Semiconductor business between Taiwan and the US is a “win-win” model for both sides given the high level of complementarity, the government said yesterday responding to tariff threats from US President Donald Trump. Home to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), Taiwan is a key link in the global technology supply chain for companies such as Apple Inc and Nvidia Corp. Trump said on Monday he plans to impose tariffs on imported chips, pharmaceuticals and steel in an effort to get the producers to make them in the US. “Taiwan and the US semiconductor and other technology industries
SMALL AND EFFICIENT: The Chinese AI app’s initial success has spurred worries in the US that its tech giants’ massive AI spending needs re-evaluation, a market strategist said Chinese artificial intelligence (AI) start-up DeepSeek’s (深度求索) eponymous AI assistant rocketed to the top of Apple Inc’s iPhone download charts, stirring doubts in Silicon Valley about the strength of the US’ technological dominance. The app’s underlying AI model is widely seen as competitive with OpenAI and Meta Platforms Inc’s latest. Its claim that it cost much less to train and develop triggered share moves across Asia’s supply chain. Chinese tech firms linked to DeepSeek, such as Iflytek Co (科大訊飛), surged yesterday, while chipmaking tool makers like Advantest Corp slumped on the potential threat to demand for Nvidia Corp’s AI accelerators. US stock
The US Federal Reserve is expected to announce a pause in rate cuts on Wednesday, as policymakers look to continue tackling inflation under close and vocal scrutiny from US President Donald Trump. The Fed cut its key lending rate by a full percentage point in the final four months of last year and indicated it would move more cautiously going forward amid an uptick in inflation away from its long-term target of 2 percent. “I think they will do nothing, and I think they should do nothing,” Federal Reserve Bank of St Louis former president Jim Bullard said. “I think the
SUBSIDIES: The nominee for commerce secretary indicated the Trump administration wants to put its stamp on the plan, but not unravel it entirely US President Donald Trump’s pick to lead the agency in charge of a US$52 billion semiconductor subsidy program declined to give it unqualified support, raising questions about the disbursement of funds to companies like Intel Corp and Taiwan Semiconductor Manufacturing Co (台積電). “I can’t say that I can honor something I haven’t read,” Howard Lutnick, Trump’s nominee for commerce secretary, said of the binding CHIPS and Science Act awards in a confirmation hearing on Wednesday. “To the extent monies have been disbursed, I would commit to rigorously enforcing documents that have been signed by those companies to make sure we get
RSS