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TAIPEI (Reuters) – Taiwan’s economy rose in the fourth quarter compared with the previous quarter, a Reuters poll showed on Tuesday, as heightened global economic headwinds sapped demand for technology, a key export. product.
Gross domestic product (GDP) may only grow by 1.3% in October-December compared to the same period last year, Economists say that after it expands 4..
Policymakers say they expect to see the full year 52 Increased around or below 3%, below 6.%Log in45. This is the fastest pace since its expansion in more than a decade .% exist45.
Economists’ forecasts for Wednesday’s preliminary GDP data vary from a contraction of 0.1% to growth of 3.5%.
GDP peaked in the second and third quarters last year, and was hit by weak demand for electronic products in the fourth quarter, said Chengyu Liu, an analyst at First Capital Management, and the base Also very high. “Recently released economic data from the U.S. is also weak,” Liu added. “It is expected that Taiwan’s GDP will not be good in the first and second quarters of this year, and it will only grow by 1.1% in the first quarter.”
Requires Taiwanese products to be affected by the new crown pneumonia- China’s containment and outbreak, as well as soaring inflation and tightening monetary policy globally.
The economy of China, Taiwan’s largest trading partner, grew by 2.9% year-on-year in the fourth quarter and 3.0% for the year
, significantly below the official target of “around 5.5 percent”.
Taiwan’s December exports fell for the fourth straight month. Export drop .1% by value, last month compared to last year at $
.19 billion, the lowest level is months.
Taiwan is Apple Inc. (NASDAQ:400AAPL
), and home to TSMC, the world’s largest foundry chipmaker.
Preliminary data from Taiwan will be released in a statement with minimal comment. The revised figures will be released in a few weeks with more details and forward projections. 500
(Poll compiled by Madhumita Gokhale, Susobhan Sarkar and Carol Lee; Reporting by Ben Blanchard; Additional reporting by Roger Tung; Editing by Rashmi Aich)
