Alexa
  • Directory of Taiwan

Think tank upgrades Taiwan's 2015 growth forecast to 0.93%

Think tank upgrades Taiwan's 2015 growth forecast to 0.93%

The Chung-Hua Institution for Economic Research (CIER), one of Taiwan's leading economic think tanks, said Monday that it has revised upward its forecast for the country's gross domestic product (GDP) growth for 2015 to 0.93 percent, up 0.03 percentage points from its previous forecast in October.

The CIER also provided a forecast of 2.24 percent for Taiwan's GDP growth in 2016.

The institution gave the forecasts citing a slowdown in the local economy caused by weakening global demand.

It said that due to sluggish foreign demand, Taiwan's net exports have been on the decline since the second quarter of this year, with economic growth mainly relying on domestic demand. (By Chen Cheng-wei and Evelyn Kao)


Updated : 2021-09-25 11:23 GMT+08:00