Taiwan’s Economy Expands More Than Expected in Third Quarter
- Gross domestic product grew by 3.97% on-year in the period
- Officials had warned economic growth would start slowing
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Taiwan’s economy grew more than expected in the third quarter, a sign the chips the archipelago makes remain in high demand due to the AI boom.
Gross domestic product expanded by 3.97% on-year in the period, the statistics bureau in Taipei said in a statement on Thursday. That outpaced the 3.4% median estimate in a Bloomberg survey of economists. Consumer spending rose 1.92%, the lowest figure since March 2022.