By: Tsai Yi-chu, Y.F. Low and Frances Huang
Taipei, Nov. 5 (CNA) The Taiwan Institute of Economic Research (TIER), one of Taiwan’s major think tanks, on Thursday slashed its forecast for the country’s 2015 gross domestic product (GDP) growth to 0.83 percent.
The latest forecast is 2.28 percentage points lower than TIER’s projection in July of a 3.11 percent growth.
TIER is the second think tank to cut its economic growth forecast for Taiwan to below 1 percent.
On Oct. 15, the Chung-Hua Institution for Economic Research lowered its prediction of Taiwan’s GDP growth from 3.04 percent to 0.9 percent, citing weaker exports, which it said were being dragged down by a wobbly global economy. [FULL STORY]