Taiwan GDP Shrinks as Slowdown Seen From Japan to Korea

Taiwan’s economy unexpectedly shrank, South Korean output fell and a Japanese manufacturing gauge reached the lowest level since the wake of the 2011 earthquake, adding to the case for expanded stimulus policies in Asia.

Gross domestic product in Taiwan fell 0.16 percent in the second quarter from a year earlier, according to preliminary data released by the statistics bureau in Taipei today. A purchasing managers’ index in Japan slipped to 47.9 in July from 49.9 in the previous month, according to Markit Economics, while South Korea’s industrial production declined 0.4 percent in June.