Taiwan edges up 2018 GDP growth forecast to 2.69%

[TAIPEI] Taiwan slightly raised its 2018 economic growth forecast to 2.69 per cent from 2.6 per cent on Friday, after reporting second-quarter growth that was slightly better than estimated earlier.

Second-quarter GDP growth was revised to 3.3 per cent from the same period a year earlier, compared with a preliminary 3.29 per cent, the Directorate General of Budget, Accounting and Statistics said in a statement.

The trade-reliant economy expanded 3.1 per cent in the first quarter, revised data showed.

The government forecast that exports would grow 6.39 per cent in 2018, slightly higher than a previous forecast of 6.36 per cent. That compared with a 13.2 per cent expansion in 2017.

It also nudged up its inflation estimate for 2018 to 1.52 per cent from 1.49 per cent previously.

REUTERS