DISAPPOINTING:The DGBAS attributed the lackluster performance to poor private investment and government spending, which dipped 1.2% and 2.5% respectively
Date: May 01, 2015
By: Crystal Hsu / Staff reporter
The economy grew 3.46 percent year-on-year last quarter on the back of exports, but missed the government’s forecast of 3.5 percent due to weak private investment and fiscal spending, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.
The expansion, while better than the 3.35 percent increase three months earlier, translated into a parlous 0.27 percent gain on a seasonally adjusted basis, slowing from 1.17 percent in the preceding quarter, the DGBAS said in a report. [FULL STORY]