ON THE RIGHT TRACK: The DGBAS revised up its full-year growth forecast from 2.42 percent to 2.6 percent on the back of robust exports and private spending

Taipei Times
Date: May 26, 2018
By: Crystal Hsu  /  Staff reporter

Annual GDP growth last quarter expanded 3.02 percent, marginally slower than an official forecast of 3.04 percent made last month, as private consumption and travel income turned out slightly lower.

However, the Directorate-General of Budget, Accounting and Statistics (DGBAS) raised its forecast for economic growth this year from 2.42 percent to 2.6 percent, citing better-than-expected exports and private spending, which should be sustainable for the rest of the year.

“We are more positive about the domestic economy after major international research bodies recently upgraded their global GDP growth forecasts,” DGBAS Minister Chu Tzer-ming (朱澤民) said at a news conference.

Faster growth in advanced and emerging economies is favorable for Taiwan’s exports, which are forecast to increase 6.36 percent this year, compared with the 4.54 percent growth the statistics agency projected in February, its report showed.    [FULL  STORY]