World Economy

ANZ Cuts Taiwan’s Growth

ANZ Cuts Taiwan’s GrowthANZ Cuts Taiwan’s Growth

Australia and New Zealand Banking Group Ltd. has lowered its forecasts of Taiwan’s gross domestic product growth for 2015 and 2016 by taking a weaker-than-expected export performance into account, Focus Taiwan reported. ANZ has trimmed its estimate for Taiwan’s GDP growth for 2015 to 1.30% from an earlier forecast of a 1.94% made in July, while also significantly downgrading its prediction of Taiwan’s GDP growth for 2016 to 2.04%, from 3.8%. The less optimistic forecast in Taiwan’s 2015 economic growth echoed a move made by Taiwan’s Directorate General of Budget, Accounting and Statistics in mid-August to lower Taiwan’s GDP growth to 1.56% from 3.28%.