Taiwan's growth is downgraded as its economy contracts

Taiwan's economy contracted in the three months to the end of June, as the global slowdown weighed on export-dependent countries.

Taiwan Sees Growth After Period of Contraction

TAIPEI—Taiwan emerged from a half-year of economic contraction in the first quarter, as expected, but an uncertain outlook for its major trading partners—China, the U.S. and Europe—and a rising local currency prompted the government to trim its export and economic growth forecasts for the year.