Taiwan’s GDP likely to grow at 2.2 pc in third quarter

Published: October 29, 2018 11:27:18 | Updated: October 30, 2018 16:11:35


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Taiwan’s gross domestic product is likely to grow 2.2 per cent in third quarter, lower than expected, due to softening global demand for exports amid trade tensions between China and the United States.  

The median forecast in a Reuters poll of 15 economists was for Q3 GDP to expand 2.2 per cent from a year earlier. Taiwan reported 3.3 per cent annual growth for the Q2.

The preliminary figures will be released along with a brief statement. Revised figures will be released about two to three weeks later, with details and forecasts, reports Reuters.

Analysts have said weaker demand for machinery partly offset robust orders for electronic gadgets for the year-end holiday season amid the US-China trade war.

Taiwan’s central bank last month revised its economic growth forecast for this year to 2.73 per cent from June’s projection of 2.68 per cent, and said it would maintain appropriate loose monetary policy to support growth.

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