World Economy

Taiwan Growth Revised

Taiwan Growth RevisedTaiwan Growth Revised

Academia Sinica, Taiwan’s highest research institute, Wednesday revised this year’s annual GDP growth rate down to 3.24% from the previous forecast of 3.38% issued at the end of 2014, Focus Taiwan reported. Global trade slowed in Q2, negatively impacting Taiwan’s exports. The volatility in China’s economy has also led to changes in production and output expectations, further affecting Taiwan’s trade, said Chou, Ray-Yeutien, a research fellow at the institute. The second half of the year should prove to have better news, and this will occur as the global economy is expected to stabilize given the current international situation, leading to greater overall investment, he said. Energy prices have been in decline since last year, evidenced in the falling consumer price index. Although crude oil prices have begun to rise, Academia Sinica expects the annual CPI growth rate to registered -0.33% and the wholesale price index to recede by -0.08%.