Taiwan could report economic contraction in Q3: DBS Bank

Focus Taiwan
Date: 2015/10/24
By: Tsai Yi-chu and Frances Huang

Taipei, Oct. 24 (CNA) The Singapore-based DBS Bank has forecast that Taiwan will report an economic contraction for the third quarter due to worse-than-expected export performance amid slowing global demand.

DBS said that Taiwan’s gross domestic product (GDP) for the July-September period is likely to have contracted by 0.3 percent from a year earlier, lagging behind the bank’s earlier forecast of a 0.6 percent increase.

The Singapore banking group said that the weaker-than-expected third quarter economy in Taiwan largely reflected falling exports, while a drop in local industrial production also dealt another blow to the local economy.     [FULL  STORY]

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