Taiwan cuts 2015, 2016 economic growth forecasts

AFP, TAIPEI: Taiwan yesterday cut its growth forecast for 2015 for the second time since August, to 1.06 per cent, while also lowering expectations for next year amid slumping exports. The full-year figure was adjusted down 0.50 per centage points from August when the Directorate General of Budget, Accounting and Statistics made the previous estimate. "External demand growth remains weak... also inventories of consumer electronics continue to be in an adjustment phase," the government agency said in a statement. Taiwan has been struggling to spur growth in its export-focused economy, which has suffered with a slow recovery from the global financial crisis while also facing stiffer competition in the key tech sector.

Taiwan cuts 2015, 2016 economic growth forecasts

AFP, TAIPEI: Taiwan yesterday cut its growth forecast for 2015 for the second time since August, to 1.06 per cent, while also lowering expectations for next year amid slumping exports. The full-year figure was adjusted down 0.50 per centage points from August when the Directorate General of Budget, Accounting and Statistics made the previous estimate. External demand growth remains weak... also inventories of consumer electronics continue to be in an adjustment phase, the government agency said in a statement. Taiwan has been struggling to spur growth in its export-focused economy, which has suffered with a slow recovery from the global financial crisis while also facing stiffer competition in the key tech sector.