Taiwan GDP growth misses estimates after food safety concerns

Taiwan’s economy grew at a slower pace than expected last quarter as concern over food safety damped spending at restaurants.

taiwan.cooking.oil.oct.14Gross domestic product rose 3.78 percent from a year earlier in the three months through September, according to the statistics bureau’s preliminary data released today, compared with the median 3.9 percent estimate in a Bloomberg survey of economists and 3.74 percent growth in the previous period.

The discovery of tainted oil in local food has prompted Taiwanese firms including Wei Chuan Foods Corp. to recall products and Japan and China to ban food imports from the island. 

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About Douglas Powell

A former professor of food safety and the publisher of barfblog.com, Powell is passionate about food, has five daughters, and is an OK goaltender in pickup hockey. Download Doug’s CV here. Dr. Douglas Powell editor, barfblog.com retired professor, food safety 3/289 Annerley Rd Annerley, Queensland 4103 dpowell29@gmail.com 61478222221 I am based in Brisbane, Australia, 15 hours ahead of Eastern Standard Time