Barclays slashes Taiwan GDP growth outlook to 2%

Taipei Times
Date: Aug 04, 2015
By: Crystal Hsu  /  Staff reporter

British banking group Barclays PLC yesterday hacked its forecast for GDP growth in Taiwan by 1.7 percentage points to 2 percent for this year, after poor exports dragged down the nation’s showing in the second quarter and might continue to weigh it down.

“Exports cut more deeply into growth last quarter, meriting a significant downward revision,” Barclays senior regional economist Leong Wai Ho (梁偉豪) said in a research note.

Taiwan turned out not to be immune to a slowdown in industrialized Asia, as evidenced by poor exports that subtracted 0.9 percentage points from growth last quarter, the economist said.     [FULL  STORY]

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