CIER raises Taiwans economic forecast for 2014 The Chung-Hua Institution for Economic Research (CIER) has positively revised its forecast for Taiwans economic growth in 2014 because of continued strength in the countrys private consumption and investment. The Taipei-based think tank predicted on Tuesday that Taiwans gross domestic product (#GDP) will grow 3.46% in 2014, up 0.31 percentage points from its previous projection of 3.15% in July. The #CIER also estimated Taiwans 2015 GDP growth at 3.53% after a mild recovery in the domestic economy. According to the CIERs estimates, #Taiwans economy grew 3.76% from July to September and will grow 3.13% towards the year end. However uncertainties remain in the long term, and slowing economic activity in emerging markets such as China is likely to drag down worldwide economic growth. As well, #Chinas government has asked #Chinese companies to shift at least 30% of their orders to domestic suppliers in recent years, leading to a decline in orders for intermediate goods from Taiwan such as semiconductors and electronics components.
Posted on: Wed, 08 Oct 2014 09:28:24 +0000
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