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Friday, 19 November 2010 - Taiwan's economy up 9.80 percent in third quarter
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    Read more with google mobile : Taiwan's economy up 9.80 percent in third quarter

    Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Taiwan's economy up 9.80 percent in third quarter AFP - Friday, November 19 Send IM Story Print Taiwan's economy up 9.80 percent in third quarter Slideshow: Full Photo Coverage: Business & Economy TAIPEI (AFP) - – Taiwan said Thursday its economy grew by a higher-than-expected 9.80 percent in the third quarter of 2010 from a year earlier, lifted by private-sector investment. The figure compares with a revised 12.86 percent increase in the second quarter, according to data from the Directorate General of Budget, Accounting and Statistics. When the agency last published economic growth figures in August, it predicted the economy would expand by 6.90 percent in the third quarter. "Private investment had the most impact on the economy, while growing public consumption amid improving conditions also contributed to growth," said Yeh Maan-tzwu, a spokeswoman for the directorate general. The agency raised its forecast for full year growth in 2010 to 9.98 percent -- a near 21-year high -- up from the 8.24 percent it outlined in August. Fixed-asset investment, which includes private investment, is forecast to rise by 23.12 percent for the whole year, the directorate general said, a marked increase from 17.10 percent forecast in August. "Especially the semiconductor sector has seen a rise in investment," said Allen Lin, a Taipei-based economist with Concord Securities. "Another reason for growing private investment is that some Taiwanese businesses with investment in China have come back home because wages in the mainland have become too high and their costs have risen." The directorate general said that it expected private investment this year to exceed two trillion Taiwan dollars (66 billion US dollars), close to 2007's record of 2.2 trillion Taiwan dollars. The possibility that Taiwan's private investment was being boosted by a withdrawal of some local enterprises from China is somewhat paradoxical. Negotiators from Taiwan and China signed a sweeping economic and trade agreement in June, in the boldest step yet towards reconciliation between the former rivals, who split after the end of a civil war in 1949. Signing the pact has been a major priority for President Ma Ying-jeou's Beijing-friendly Kuomintang party, which swept to power in 2008 on a promise to improve the island's economy through better ties with China. Consumer spending appears to have been modest in Taiwan so far in 2010, judging from inflation expectations made public by the directorate general Thursday. Consumer prices are expected to rise by 0.98 percent in 2010, it said, down from a forecast of 1.23 percent made in August. Recommend Send IM Story Print Related Articles US urged to cut military edge to help plug deficit Reuters - 38 minutes ago Bayer to cut jobs in 1 bln euro restructuring plan Reuters - 39 minutes ago FACTBOX-World's largest vehicle producers =2 Reuters - 41 minutes ago FACTBOX-GM to join major indexes as soon as Friday Reuters - 42 minutes ago Ex-car czar Rattner sued by Cuomo, settles with SEC Reuters - 56 minutes ago News Search Top Stories Astronomers find first planet from another galaxy GM shares soar in record launch as it cuts government stake Namibian authorities tight-lipped on suspicious luggage Greece announces more cuts to meet deficit shortfall OECD sees 2011 growth easing, backs Ireland aid More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » Most Popular Most Viewed Most Recommended Prince William's wedding to fit austere times in Britain 'Devastated' Eva Longoria files for divorce Mind over antimatter: Physicists explore new frontier US airport security staff touch a nerve Swiss pharmaceutical giant Roche to shed 4,800 jobs More Most Viewed » Alcohol more harmful than heroin, crack cocaine: study Toddler survives seven-floor fall in France EU fines 11 airlines 800 million euros for air cargo cartel Pilgrims stone 'devil' as Muslims celebrate Eid 'Naked' airport scanners may be 'dangerous' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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