Taipei-The government Thursday lowered its forecast for Taiwan's economic growth rate in 2018 to 2.6 percent, a 0.06 percentage point reduction from the previous forecast made in November.
The cabinet-level Directorate General of Budget, Accounting and Statistics (DGBAS) attributed the drop to a lower than expected economic growth forecast for the fourth quarter, which has been revised down to 1.76 percent, the lowest for 10 quarters and down 0.26 percentage points from the previous forecast made in November.
Amid uncertainties arising from the ongoing trade disputes between the United States and China, investment and consumption in Taiwan were negatively impacted in Q4, DGBAS official Chen Ya-mei (???) said.
However, Chen said the domestic economy still registered quarter-to-quarter growth rates of 0.28 percent, 0.38 percent and 0.40 percent, respectively, from the second quarter to fourth quarter.
This indicates that Taiwan's economy remained quite "stable" during that period, which is why the DGBAS has declared the business climate "less bullish" rather than "in a downturn."
Source: Focus Taiwan News Channel