ZCZC
BCN-24
TAIWAN-ECONOMIC-GROWTH
Taiwan cuts 2018, 2019 economic growth forecasts
TAIPEI, Dec 1, 2018 (BSS/Xinhua) – Taiwan on Friday trimmed its economic
growth forecasts for this year and next year amid slower global economic
expansion.
Gross domestic product (GDP) will grow 2.66 percent this year, slightly
lower than 2.69 percent growth it forecasted previously, according to the
island’s statistics agency.
Exports are expected to grow 3.37 percent year on year in 2018, while
private consumption may rise 2.17 percent, lower than a previous forecast due
to subdued consumer confidence. Fixed-asset investment growth outlook has
also been cut to 3.59 percent.
The agency also lowered Taiwan’s 2019 GDP growth outlook to 2.41 percent
from 2.55 percent.
Exports may grow 3.06 percent next year as demand for the semiconductor
sector is likely to remain strong. Private consumption may rise 2.23 percent
on the back of better employment situation and possible pay rises, while
fixed-asset investment may climb 5.4 percent as green energy investment
continues.
The agency said uncertainties such as trade frictions, financial market
fluctuations and commodity prices would all affect the island’s economic
prospects.
Taiwan’s GDP grew 2.28 percent year on year in the third quarter, missing a
previous forecast of 2.36 percent.
BSS/XINHUA/HR/1442