Taiwan and Thailand reported their fastest growth in several years as surging trade, private consumption and tourism fuel hopes that Asia can maintain growth without the help of government stimulus.
Gross domestic product in Taiwan soared 9.22 percent in the fourth quarter on a year-on-year basis, its highest pace in five and a half years and more than three percentage points faster than expected by many economists.
Thailand’s GDP grew at its quickest pace in 10 years meanwhile, expanding 3.6 percent in the fourth quarter from the July-September period.
The strength of the export recovery throughout many regions in Asia has surprised many, implying perhaps that demand in the West for apparel, consumer electronics and other items is stronger than expected.
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(Source: The Wall Street Journal Online)