GLOBAL HEADWINDS:The outlook for Taiwan is unlikely to pick up as the global economic landscape remains dim, which bodes ill for the nation’s exports, Ifo said
Date: Feb 13, 2016
By: Crystal Hsu / Staff reporter
Taiwan’s economy is deteriorating this quarter compared with last quarter, as private investment and consumption showed further weakness, according to the latest Ifo World Economic Survey, which was released on Thursday evening.
The outlook might not brighten in the next six months, as the global economic landscape continues to cloud over, which is unfavorable for the nation’s exports, the German-based institute’s quarterly survey found.
The first-quarter survey results ran counter to statements by the Directorate-General of Budget, Accounting and Statistics that the economy has likely bottomed out and would start to recover soon.
The score for the macroeconomy came in at 1.2 for the current quarter, down from 1.9 in the final quarter of last year, the survey of 1,085 experts from 210 countries said.
The National Development Council helped gather information for the Ifo survey on Taiwan: Scores between 1 and 3.5 indicate contraction, while those at about 5 signify stagnation and values between 6 and 9 suggest a positive trend. [FULL STORY]