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Taiwan lifts 2017 economic growth forecast

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Staff Writer | February 15, 2017
Taiwan took a slightly more optimistic view of its economy's trajectory over the coming months, raising its growth forecast for 2017.
Taiwan people
Economy in Asia   Taiwan revised up its GDP
Taipei now forecasts growth this year at 1.92% compared with an earlier projection of 1.87%, according to figures released Wednesday by the budget and statistics office.

The government also revised up its quarterly gross domestic product data for the last three months of 2016 to show growth of 2.88% from a year earlier, compared with an initial estimate of 2.58%.

Still, seasonally adjusted quarter-over-quarter data, offering a closer gauge of the economy's recent strength, continued to show a slowing of momentum, with the figure revised down to 1.82% on an annualized basis, from a preliminary estimate of 1.89%.

The growth figures largely match up with improved export and production data in recent months that suggest the island's recovery is continuing, aided also by an uptick in capital spending by firms and firmer private consumption.