WINNING COMBINATION:Domestic demand boosted economic growth by adding 4.09 percentage points last quarter, while private consumption rose 2.94 percent

Taipei Times
Date: Jan 22, 2020
By: Crystal Hsu  /  Staff reporter

The nation’s economy grew 3.38 percent last quarter, faster than the 3.04 percent gain estimated in November last year, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

The quarterly increase lifted full-year economic growth to 2.73 percent for last year, also beating an estimated 2.64 percent increase, the agency said.

The yearly growth outpaced main trade rivals Hong Kong, Singapore, South Korea and Japan, the DGBAS said.

The seasonally adjusted quarterly growth rate was 6.96 percent, suggesting that economic expansion is gaining momentum, compared with 2.42 percent three months earlier, it said.
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