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MNI BRIEF: Taiwan's Q3 GDP Quickens to 4.1%

MNI (BEIJING)
MNI (Beijing)

Taiwan’s growth rate quickened in the third quarter as private consumption rebounded, according to advanced estimates released from the Directorate General of Budget, Accounting and Statistics (DGBAS) on Friday.

GDP increased at a 4.1% y/y pace, up from 3.05% in Q2, as private consumption increased 7.49% as its rebounded from Covid disruptions at the same time last year. Exports of goods and services grew by 1.36% y/y in Q3, said the DGBAS.

The Central Bank of Taiwan cut its GDP forecast to 3.51% in September from June's estimate of 3.75%, as sagging export demand offset the upturn in private consumption.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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