Taiwan GDP growth misses analyst targets

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

Gross domestic product rose 3.78 percent from a year earlier in the three months to September, according to the statistics bureau's preliminary data released on Friday, 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 firms from Taiwan, including Wei Chuan Foods Corp, to recall products and Japan and the mainland to ban food imports from the island.