Taiwan Q3 GDP Drops At Slower Pace

Sponsored Links

Taiwan's gross domestic product or GDP decreased 1.29% year-on-year in the third quarter, the Directorate General of Budget, Accounting and Statistics said on Thursday.

The GDP was down 6.85% annually in the second quarter, revised from a 7.54% decrease estimated initially. The first quarter GDP was revised up to 9.06% from a decline of 10.13%.

Taiwan's GDP has been falling since the third quarter of 2008 and the economy fell into a recession in the fourth quarter.

The real GDP is expected to increase 6.89% in the fourth quarter but it will contract 2.53% for 2009 as a whole, the statistical office said.

The economy is then forecast to grow by 4.39% in 2010 and nation's trade sector is expected to come in a much better shape.

Taiwan's gross domestic product or GDP decreased 1.29% year-on-year in the third quarter, the Directorate General of Budget, Accounting and Statistics said on Thursday. (Market News Provided by RTTNews)