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Taiwan's economic growth seen slowing to 2.2 percent in third quarter

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Taiwan's economic growth seen slowing to 2.2 percent in third quarter
FILE PHOTO: A container is lifted at Keelung port, northern Taiwan, October 30, 2015. REUTERS/Pichi Chuang   -   Copyright  Pichi Chuang(Reuters)
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TAIPEI (Reuters) – Taiwan’s economic growth probably slowed in the third quarter due to softening global demand for exports amid trade tensions between China and the United States.

The median forecast in a Reuters poll of 15 economists was for third-quarter gross domestic product to expand 2.2 percent from a year earlier. Taiwan reported 3.3 percent annual growth for the second quarter.

The preliminary figures will be released along with a brief statement. Revised figures will be released about two to three weeks later, with details and forecasts.

Analysts have said weaker demand for machinery partly offset robust orders for electronic gadgets for the year-end holiday season amid the U.S.-China trade war.

Taiwan’s central bank last month revised its economic growth forecast for this year to 2.73 percent from June’s projection of 2.68 percent, and said it would maintain appropriate loose monetary policy to support growth.

(Poll compiled by Carol Lee; Reporting by Yimou Lee; Editing by Gopakumar Warrier)

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