Taiwan’s economy shrank slightly less than expected in the third quarter and the government downgraded its outlook, the Department of Statistics, Directorate General of Budget, Accounting & Statistics said Friday.
Gross domestic product fell 0.63 percent in three months to September from a year ago, which was revised from 1.01 percent decline estimated previously.
The real growth for the second quarter was revised to 0.57 percent and that for the first quarter to 4.04 percent.
In the fourth quarter, GDP was estimated to expand 0.49 percent. Real GDP will grow 1.06 percent this year, incorporating the previous three quarters data, the government said.
The better performance of world economy next year will sustain Taiwan’s export growth. Combining with the domestic demand, real growth will be 2.32 percent, it said.
In August, the government had projected 1.56 percent growth this year and 2.7 percent in 2016.
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