Taiwan showed greater than expected consumption in first half of 2018
Taiwan News
Date: 2018/07/26
By: Scott Morgan, Taiwan News, Staff Writer
Consumers at Shilin Night Market. (Flickr user: McKay Savage)
TAIPEI (Taiwan News) – The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) research institute has revised its forecast for Taiwan’s 2018 GDP growth to 2.49 percent, citing robust exports and consumption, at a press conference on July 25 reported CNA.
The revised figure is an increase of 0.04 percent from its previous estimate in April, with the global economic recovery, rising raw material prices, increasing international trade and better than expected domestic consumption cited as positive influences.
TIER is one of Taiwan’s two main economic think tanks, and a leading force of economic analysis for Taiwan and the broader region. The think tank also provides advisory services to government and private industry.
Gordon Sun (孫明德), director of the TIER’s Economic Forecasting Center said that in sum, Taiwan’s first half of the year was better than expected.
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