By: Tsai Yi-chu and Frances Huang
Taipei, June 22 (CNA) The Taiwan Research Institute said on Thursday it has raised its forecast for gross domestic product (GDP) growth in Taiwan for 2017 to more than 2 percent, at a time of rising global demand.
The institute, one of the leading think tanks in Taiwan, upgraded its GDP growth forecast from 1.74 percent to 2.01 percent. The institute joined a growing list of think tanks to hike their GDP predictions to more than 2 percent.
On the back of a global economic recovery, Taiwan’s commercial sales, which are comprised of wholesale, retail and restaurant/food/beverage industries, started to make a comeback in the second half of last year, while momentum also picked up in industrial production in the second half of last year on the back of growing exports, the institute said. [FULL STORY]