Taiwan cuts 2016 GDP forecast again

Taipei

TAIWAN trimmed its 2016 economic growth outlook for the third time on Friday, as weak demand for the island's exports continue to hurt the island's prospects for recovery.

Gross domestic product should grow 1.06 per cent this year, the Directorate General of Budget, Accounting and Statistics said, slower than the 1.47 per cent growth it forecast previously.

Trade-reliant Taiwan, whose economic fortunes are closely linked to China, is struggling to …