STOCK TURNOVER: Consumer consumption of devices, clothing, travel, as well as food and beverage sales last quarter helped to generate a positive wealth effect

Taipei Times
Date: Feb 01, 2018
By: Crystal Hsu  /  Staff reporter

The nation’s GDP expanded 3.28 percent last quarter, beating the government’s forecast by almost 1 percentage point, as the global economy grew faster than expected, boosting demand for Taiwanese exports, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday.

The showing helped lift full-year GDP growth to 2.84 percent, the highest in 11 quarters and 0.26 percentage points higher than the official prediction in November last year, according to the agency’s advance report.

“Recovery in advanced and emerging economies accelerated in the second half of last year and the pace has yet to show signs of a turnaround or slowdown,” DGBAS senior executive officer Huang Wei-jie (黃偉傑) said, quoting international research bodies.

The IMF has raised its growth forecast for global trade this year from 4 percent to 4.6 percent, an adjustment that is favorable for Taiwan’s export-reliant economy, Huang said.    [FULL  STORY]