U-TURN:Economist Kao Shien-quey said Taiwan’s economy is likely to begin to recover in the second half of the year, but the recovery would be a gradual one
Date: Jan 13, 2016
By: Staff writer, with CNA
Taiwan’s economy is currently in a U-shaped turnaround and is likely to slowly recover this year, National Development Council (NDC) Deputy Minister Kao Shien-quey (高仙桂) said yesterday, rejecting a Bloomberg News forecast that the nation is headed toward a recession.
“This year should not be so bad,” Kao said, responding to the Bloomberg report on Monday that said Taiwan has a 55 percent chance of falling into recession, compared with 30 percent for Japan and South Korea’s 18 percent.
She said recent leading indicators and purchasing manager’s indexes have shown that the economy is likely to bottom out in the first and second quarters of this year and begin to recover in the second half of the year. [FULL STORY]