Taiwan economy grows 3.84pc in Q2

TAIPEI, July 31 (AFP): Taiwan's economy grew a higher-than-expected 3.84 per cent on-year in the three months to June, official data showed Thursday, thanks to increased exports and domestic consumption.
The figure is much higher than the 2.79 per cent forecast in May and is the best since the final three months of 2012, as strong demand for electronics, machinery and metals offset declines in other products, the Directorate General of Budget, Accounting and Statistics said.
The economy grew 3.14 per cent in the first quarter.
Private consumption increased 2.6 per cent on-year in April-June as the jobs market picked up, while retail sales and tourism spending also improved, the agency said.
Growth in Taiwan's export-reliant economy has been buoyed by a steady economic recovery in developed countries as well as improved domestic consumption.