Taiwan Q2 GDP up 0.64%, sharply lower than forecast

[TAIPEI] Taiwan's economy grew a much-worse-than-expected 0.64 per cent in the second quarter year-on-year, as China and other major markets bought less of the island's line of key technology products, data showed on Friday.

The preliminary gross domestic product (GDP) reading, released by the Directorate General of Budget, Accounting and Statistics, missed the 2.67 per cent forecast by analysts.

The island's export-driven economy grew an annual 3.37 per cent in the first quarter.

REUTERS