TIER revises GDP growth up to 2.04%

THEM APPLES:Even if Apple achieves a technological breakthrough in its new iPhone series, it would not achieve a satisfactory yield rate and boost GDP much, an analyst said

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

The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for the nation’s GDP growth this year to 2.04 percent, from its last projection of 1.78 percent, saying that exports would increase as the global economy continues to improve.

The think tank estimated that GDP expanded 2.55 percent in the first quarter, but that growth would slow over the rest of the year as a low-base effect tapers off.

“While GDP growth might rise above 2 percent this year, momentum is likely to weaken each quarter due to a lack of major catalysts,” TIER economist Gordon Sun (孫明德) told a news conference in Taipei.

Exports of electronics, raw materials and machinery equipment — the nation’s main drivers of growth — have benefited from recovering inventory demand as price concerns fade amid stabilizing global crude oil prices, Sun said.   [FULL  STORY]

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