Want China Times
Taiwan’s Directorate General of Budget, Accounting and Statistics revised downward
Friday Taiwan’s 2015 economic growth forecast from its late May projection of 3.28% to 1.56%.
The considerable downward adjustment can partially be attributed to the low GDP growth in the second quarter at 0.64%, far below the previously projected 3.05%.
As international oil prices continued to drop and sluggish economies were seen around the globe in the first half of the year, Taiwan’s exports declined for six consecutive months, according to the directorate.
According to the statistics office forecast, prospects for exports in the second half are not optimistic in view of the shrinkage of foreign demand. [FULL STORY]