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Financial News: Taiwan Q1 GDP Growth Revised Down

Taiwan Q1 GDP Growth Revised Down

05/25/2018 - 06:10:00 (RTTNews)

(RTTNews) - Taiwan's economic growth eased more than initially estimated in the three months ended March, latest figures from the Directorate General of Budget, Accounting & Statistics (DGBAS) showed Friday.

Real gross domestic product advanced 3.02 percent year-over-year in the first quarter, slower than the 3.42 percent rise in the fourth quarter, which was revised up from 3.28 percent.

The preliminary estimate for the March quarter was 3.04 percent.

On the expenditure side, real private final consumption grew 2.73 percent annually in the first quarter, while gross capital formation declined by 1.94 percent.

Both exports and imports grew by 6.69 percent and 6.12 percent, respectively.

On a quarter-on-quarter seasonally-adjusted annualized basis, GDP rose at a slower pace of 0.79 percent in the March quarter, following a 4.84 percent growth in the December quarter. The first quarter figure was revised down from 1.32 percent.

Looking ahead, the real GDP is predicted to grow by 2.60 percent in 2018, the agency said.

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