Taiwan’s economy expanded for a fourth consecutive quarter in the three months to March, lifted by domestic consumption and an increase in exports driven by overseas demand for electronic components.
Gross domestic product for the first quarter grew 2.56 per cent year-on-year, according to Taiwan’s Directorate-General of Budget, Accounting and Statistics. This was above a median estimate from economists compiled by Bloomberg of 2.4 per cent growth. The island’s economy grew 2.88 per cent year on year in the three months to December.
This represented 2.93 per cent quarter on quarter growth on a seasonally adjusted basis.
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