Taiwan notches slow economic growth

Taiwan’s economic growth missed government expectation in the third quarter due to lukewarm exports, Financial Times reported. Growth came in at 1.58% year-on-year, against a government forecast of 2.47%. Taiwan produces a major share of the world’s electronics products, and its exports account for around 70% of the overall economy. Exports in the third quarter grew just 1.68% year on year. That is a sharp deceleration from the second quarter, when exports grew 5.16% and the overall economy grew 2.49%. Private consumption also slipped slightly.