Taiwan Economic Growth Eases To 7.64%

(RTTNews) - Taiwan's economic growth moderated slower than expected in the third quarter, according to advance estimates by the Directorate General of Budget, Accounting, and Statistics, or DGBAS, revealed on Friday.

Gross domestic product, or GDP, advanced 7.64 percent year-on-year in the September quarter, slower than the 8.01 percent increase in the June quarter. The expected growth rate was 6.0 percent.

On the expenditure side, private final consumption grew by 0.92 percent over the year, and government final consumption rose only by 0.1 percent.

Gross capital formation in the domestic economy was almost unchanged, as the increase in investment in machinery equipment, intellectual property products, and construction was offset by a decrease in investment in transportation equipment.

Exports of goods and services grew 30.6 percent, and imports were 25.3 percent higher.

On a quarter-on-quarter seasonally adjusted annual basis, GDP rose at a slower pace of 5.32 percent versus a 12.8 percent expansion a quarter ago.