PERSISTING TENSIONS: Cathay Financial’s forecast is more conservative than one by the government, as it expects a high level of economic certainty over the period

Taipei Times
Date: Dec 17, 2019
By: Kao Shih-ching  /  Staff reporter

The nation’s economy is expected to grow 2.3 percent next year, decelerating from 2.5 percent this year, as domestic investment slows and US-China trade tensions continue to cloud exports, Cathay Financial Holding Co (國泰金控) said yesterday.

The company’s latest forecast is better than its September prediction of a 2.2 percent increase this year and 2 percent growth next year.

The upward revision came after the Directorate-General of Budget, Accounting and Statistics (DGBAS) on Nov. 29 revised average economic growth between 2012 and last year from 2.33 percent to 2.73 percent, Cathay Financial said.

However, its forecasts are still lower than the DGBAS’ forecast of a 2.64 percent increase this year and 2.72 percent growth next year.    [FULL  STORY]