TIER raises GDP growth forecast

MARKET BALANCE:While electronics firms appear optimistic about the second half of the year, and exports could grow 8.4 percent this year, domestic demand is still floundering

Taipei Times
Date: Jul 26, 2017
By: Crystal Hsu / Staff reporter

The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday slightly raised its forecast for the nation’s GDP growth this year to 2.08 percent, from a previous projection of 2.04 percent, as exports regain growth momentum after slowing in the second quarter.

The planned launches of next-generation devices by global technology brands are expected to ramp up business for local firms in their supply chains, with the benefit likely more evident next quarter, the Taipei-based think tank said.

“Despite the upward revision, the nation’s economy continues to have difficulty casting off weak growth as domestic demand flounders and global uncertainty lingers,” TIER economist Gordon Sun (孫明德) told a news conference.

Major smartphone brands are expected to introduce new models next month, followed in September by Apple Inc’s next-generation iPhone, which will reportedly feature a new design to mark the product’s 10th anniversary, he said.    [FULL  STORY]

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