By: Chen Cheng-wei and Scully Hsiao
Taipei, June 16 (CNA) The Taiwan Research Institute (TRI), a private think tank, cut its forecast Tuesday for Taiwan’s economic growth this year to 3.35 percent, thanks to a weak recovery in the global economy.
In its latest forecast, it predicted that Taiwan’s economy will expand 3.35 percent, down slightly from 3.43 percent in its previous forecast made in December last year.
The institute attributed the decline to a weak economic recovery worldwide and weak exports and investment at home.
However, the think tank was upbeat about local consumption this year, as agricultural and industrial materials remain low, which is keeping commodity prices in check. [FULL STORY]