On Wednesday, Taiwan’s statistics agency lowered its forecast of 2020 economic growth to 2.37% from 2.72% in the previous estimate due to the concerns that the outbreak of coronavirus might hit the country’s exports and hurt the economy.
The fourth quarter of 2019’s economic growth estimate was also lowered to 3.31% from 3.38%, bringing the full-year 2019 gross domestic product (GDP) at 2.71% instead of the preliminary 2.73%.
The inflation outlook was also lowered to 0.62% from the previous 0.71%.
The country’s fourth-quarter economic growth posted the fasted tempo in 1.5 years, partly due to the ease in the US-China trade conflict which pushed the electronics demand to a recovery.
Tags: AlwaysFree,Asia Pacific,Economy,EN ALWAYSFREE,English,Northeast Asia,Taiwan Taiwan GDP,Taiwan’s economic growth,Taiwan’s inflationFebruary 13, 2020 6:25 PM