Taiwan Economy Grows the Most in a Year
The Semiconductor Chip Friendly, Taiwan has exponential growth, despite the global crisis and inflation!
GDP expands 2.32% in the July-September period to beat 2% estimate
Data gives the government a boost ahead of presidential elections
Tweet on Taiwan’s economy growth
The Semiconductor Chip Giant Friendly Economy, Taiwan Grows the Most in a Year.
GDP expands 2.32% in the July-September period to beat the 2% estimate, via Bloomberg#taiwan #semiconductors #chips pic.twitter.com/OMvAN1wEei— The_Journalbiz (@the_journalbiz) November 7, 2023
Chart:Bloomberg
Taiwan’s economy grew at the fastest pace in a year as consumer spending continued to rebound, giving the government a much-needed boost before a critical presidential election in January.
Gross domestic product in the July to September period rose 2.32% from a year earlier, official data showed Tuesday. That exceeded the median estimate of 2% growth in a Bloomberg survey of economists and compares with a 1.36% rise in the second quarter, when the economy climbed out of recession.
Consumer spending was the largest contributor to third-quarter growth, rising 8.9%, stronger than the government previously forecast, according to the statistics bureau’s statement. External demand was a positive contributor to GDP growth for the first time since the third quarter of 2022.
