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Taiwan GDP Shrinks in Fourth Quarter as Slower China Drags

  • Fourth-quarter GDP contracts 0.28%, beating estimates
  • Exports have dropped in last 11 months amid China's slowdown
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Taiwan’s economy contracted on a yearly basis for a second straight quarter as China’s economic slowdown dragged on the island’s exports.

Gross domestic product fell 0.28 percent in the three months through December from a year earlier, according to preliminary data released by the statistics bureau Friday. That compares with a 0.6 percent drop projected by the median estimate in a Bloomberg survey of economists and the 0.63 percent decline in the third quarter. The economy grew 0.85 percent in 2015.