Taiwan’s economic growth may not be on track to reach 1 per cent in 2015 after a contraction in the third quarter, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said.
In August, the statistics agency revised down its annual gross domestic product (GDP) growth estimate from 3.28 per cent to 1.56 per cent , the lowest in six years.
DGBAS Minister Shih Su-mei said that a 1-per cent growth rate would be “hard to achieve.”
Exports, export orders and industrial production all posted worse annual declines in August compared to July, she said.