GLOOMY EVALUATIONS: The Ifo World Economic Climate index worsened from minus-2.4 to minus-10.1, while the outlook for Taiwan shed 9.1 points to minus-21.8
Date: Aug 13, 2019
By: Crystal Hsu / Staff reporter
Taiwan’s economy is losing momentum, veering away from an earlier course of recovery for thisquarter, as global trade conflicts flare up without solutions in sight, the Munich-based Ifo Institute for Economic Research said yesterday.
The institute’s World Economic Climate index worsened from minus-2.4 to minus-10.1 for this quarter after experts revised downward their assessments and expectations in advanced economies and in Asia’s emerging and developing economies.
The think tank’s figure for Taiwan shed 9.1 points to minus-21.8.
“The economic climate deteriorated in all regions because the intensification of the trade conflict is having a considerable detrimental effect on the world economy,” institute president Clemens Fuest said.
The gloomy appraisal was assembled from the institute’s survey of 1,173 experts in 116 countries last month, with Taiwan’s evaluation being drawn from data compiled by the National Development Council. [FULL STORY]