Taiwan Economic Growth Eases In Q2

(RTTNews) - Taiwan's economy continued to expand strongly in the second quarter, though the pace of growth has slowed from the previous quarter, according to advance estimates by the Directorate General of Budget, Accounting, and Statistics, or DGBAS, revealed on Wednesday.

Gross domestic product, or GDP, advanced 5.09 percent year-on-year in the June quarter, slower than the 6.56 percent increase in the March quarter. The expected growth rate was 4.80 percent.

On the expenditure side, private final consumption grew by 2.71 percent over the year, and government final consumption rose by 2.01 percent.

Gross capital formation in the domestic economy rebounded sharply by 15.34 percent amid more investments in machinery, equipment, construction, and intellectual property products. Exports of goods and services grew 7.8 percent, and imports were 10.62 percent higher.

On a quarter-on-quarter seasonally adjusted annual basis, GDP rose 0.13 percent, slower than the 1.08 percent expansion a quarter ago.