Taiwan GDP might bounce back in fourth quarter

Focus Taiwan
Date: 2015/09/24
By: Yang Sh-min and Lee Meiyu

Taipei, Sept. 24 (CNA) Though forecasts from different financial institutions have indicated that there might be a bumpy road ahead for Taiwan’s economy, National Development Council Minister Duh Tyzz-jiun (杜紫軍) remained optimistic that the country’s GDP might get back on track in the fourth quarter.

On Wednesday, Yuanta-Polaries Research Institute (元大寶華研究所) slashed its economic growth forecast for Taiwan down to 1.15 percent this year, 2.17 percentage points lower than its previous estimate in June.

Meanwhile, a recent report conducted by Citigroup Inc. (花旗集團) showed that the institution has maintained its forecast of Taiwan’s GDP for 2015 at 2.0 percent. But considering the slowdown in global economic growth, Citigroup has trimmed its forecast for 2016 to 2.4 percent, down from 2.7 percent.

Duh said that recent estimates of Taiwan’s GDP growth for 2015 from different financial institutions, which include reports released by the Directorate General of Budget, Accounting and Statistics (DGBAS, 主計處), remain around 1.5 percent, though these numbers will be revised later.     [FULL  STORY]