Eurozone Services Sentiment Unexpectedly Improves
The services confidence indicator in the Euro Area picked up to -17.1 in February 2021, up from -17.7 in the previous month and above market expectations of -18.1, driven by managers’ more positive assessment of the past business situation and improved demand expectations. Meanwhile, firms’ assessment of past demand remained virtually unchanged compared to January.
Taiwan Retail Sales Growth at 5-Month High
Retail sales in Taiwan jumped 3.56 percent year-on-year in January of 2021, following a 1.69 percent increase in the previous month. It was the fastest growth in retail sales since August of 2020, mainly attributed to motor vehicles, motorcycles and parts (29.16 percent vs -6.60 percent in December) construction materials (13.43 percent vs 3.62 percent); e-commerce (28.14 percent vs 15.32 percent); and household appliances (7.91 percent vs 4.36 percent). On the other hand, sales of food, beverages and tobacco further declined (-3.46 percent vs -1.89 percent), and fell at a slower rate for fuels and related products (-9.34 percent vs -15.92 percent). On a monthly basis, retail trade was up 3.62 percent, after edging up 0.6 percent in December.
Anheuser-Busch earnings at 1.08 USD
Anheuser-Busch (BUD) released earnings per share at 1.08 USD, compared to market expectations of 0.89 USD.
Taiwan Industrial Output Growth at Near 1-Year High
Industrial production in Taiwan jumped 18.81 percent year-on-year in January of 2021, following an upwardly revised 10.29 percent rise in the previous month. It was the 12th consecutive month of growth in industrial activity and the strongest since last February, mainly boosted by manufacturing (19.67 percent vs 10.80 percent in December) and mining & quarrying (17.68 percent vs 13.31 percent). Output also advanced faster for electricity & gas supply (8.36 percent vs 4.39 percent) and water supply (0.76 percent vs 0.68 percent). Taiwan’s 2020 industrial production growth was revised upwards to 7.08 percent from an earlier 6.81 percent.