2013.10.3100:25:00UTC+00Taiwan's Economic Growth Slows Unexpectedly

Taiwan's economic growth moderated unexpectedly in the third quarter, advance estimates from the Directorate-General of Budget, Accounting and Statistics revealed Thursday.

The unadjusted gross domestic product grew 1.58 percent year-on-year in the third quarter, slower than a 2.49 percent gain in the second quarter. Economists expected the GDP to grow 2.57 percent.

The seasonally adjusted real GDP increased 0.09 percent from the previous quarter, while the annualized growth rate was 0.35 percent on a quarter-on-quarter basis.

Private consumption grew 1.56 percent annually, moderating from 1.69 percent growth recorded in the previous quarter. Gross capital formation grew 1.04 percent. Exports rose 1.68 percent year-on-year, much slower than a 5.16 percent gain in the previous quarter.