Reported 8 months ago
Cathay Financial Group has revised Taiwan's economic growth rate from 3% to 3.6% for the year, lower than the 3.9% predicted by the Directorate-General of Budget, Accounting and Statistics. Factors such as less optimistic exports in the second quarter, lack of last year's cash distributions, and negative contribution of investments in the first quarter were considered. Despite concerns about high inflation this year, with an average inflation rate three times higher in the past four years compared to the last ten years, the AI development driving structural demands, robust private consumption, and investments, along with the recovering US and mainland Chinese economies have led to a more optimistic outlook for Taiwan's economic performance compared to earlier predictions, with a 6.6% GDP growth in the first quarter but potential challenges in the second quarter.
Source: YAHOO