Preliminary Q2 GDP 1.45 yy vs Q1 2.87 Reuters poll 0.8
GDP Q2 growth at seasonally adjusted annual rate of 7.02
Central bank not expected to raise interest rates analyst
Revised figures, updated full year outlook due Aug. 18

TAIPEI, July 28 Reuters Taiwan39;s exportdependent economy returned to growth in the second quarter, helped by resilient domestic consumption, while exports remained weak as a result of flagging demand for the island39;s technology products amid global headwinds.

Gross domestic product GDP expanded by a preliminary 1.45 in the AprilJune period versus a year earlier, the statistics agency said on Friday, beating the 0.8 growth forecast in a Reuters poll.

Quarteronquarter, the economy expanded at a seasonally adjusted annual rate of 7.02.

GDP in the first quarter had fallen 2.87 from a year earlier, with the economy slipping into recession.

Analysts attributed the recovery from a technical recession to a domestic economic rebound, while factors beyond Taiwan39;s shores continue to jeopardise the island39;s prospects.

Looking forward to Q3, we expect domestic private sector consumption to return to normal levels…about 1.52 growth, said Chengyu Liu of First Capital Management.

Export demand remains weak. Taiwan39;s central bank will not raise interest rates at its next meeting in September, he said, adding that 2023 GDP growth would remain below 2.

Taiwan39;s exports fell more than expected in June, slumping the most in nearly 14 years,…