Cathay revises forecast for Taiwan’s GDP

CASH HORDE:Retirees, businesses and consumers are not spending as public sector pension reform debates continue, which is effecting the nation’s economic outlook

Taipei Times
Date: Mar 16, 2017
By: Ted Chen / Staff reporter

Cathay Financial Holding Co (國泰金控) yesterday raised its GDP growth forecast for Taiwan this year from 1.5 percent to 2.1 percent on the back of improving external conditions.

Since the beginning of this year, the US, China and Europe have exhibited faster-than-expected economic growth, leading to stronger external demand that would boost the nation’s export-oriented economy, with gains led by local technology and electronics suppliers, researchers said.

However, National Central University economics professor Hsu Chih-chiang (徐之強), who led the research team, said Taiwan’s economy still lacks internal catalysts.

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