Taiwan Q3 GDP up 2.06%, beating forecast

Taiwan's gross domestic product (GDP) rose 2.06 percent in the third quarter year-on-year, beating an earlier forecast of 1.99 percent made in August, according to an advance estimate from the Directorate General of Budget, Accounting and Statistics (DGBAS) released on Friday.

The DGBAS said that the higher than expected GDP growth for the July-September period largely reflected stronger private consumption as well as capital formation, though export growth was lower than previous forecast due to the reduced number of business days caused by a series of typhoons.

In the wake of the better than expected GDP figure in the third quarter, Taiwan's economy is expected to grow a minimum of 1 percent in 2016, the directorate said.

Source: Focus Taiwan News Channel