Taiwan Blows Past Forecasts With Economic Growth at 39-Year High
Taiwan's economy grew 13.7% in the first quarter, surpassing forecasts and marking its fastest growth since 1987. The growth was driven by demand for tech products supporting artificial intelligence computing.
Taiwan's economy expanded 13.7% in the first quarter from a year earlier, according to the statistics bureau in Taipei. This growth rate was faster than all estimates in a Bloomberg survey of economists, which had a median forecast of 11.3%. The island's economy continued to ride demand for its tech products, particularly those supporting the build-out of artificial intelligence computing. This demand helped Taiwan overcome disruptions caused by the war in Iran. The previous quarter had seen a growth rate of about 12.7%. The statistics bureau released the data on Thursday.
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