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Taiwan Joins Global Slowdown With Weakest Growth Since 2020

  • Taiwan economy grew 3.08% in 2Q, less than median estimate
  • Slowing growth in main overseas markets weighs on exporters
Updated on

Taiwan lowered its unofficial economic outlook for the year as waning global demand for electronics and rising inflation slowed growth to the slowest pace in two years.  

Gross domestic product rose 3.08% in the second quarter from a year earlier, down from 3.1% in the prior three months, official data showed Friday. That was lower than the 3.15% forecast in a Bloomberg survey of economists and the weakest since the second quarter of 2020.