Taiwan’s GDP is forecasted to grow 3.23% this year. That’s the word from the Taiwan Institute of Economic Research (TIER) on Friday.
The figure reflects an optimistic outlook as the recovery of the US and European economies lessen the impact of weakening economies in Asia.
Taiwan’s economy has benefited from the international situation. There are signs that export orders picked up in March. Consumer spending has continued to increase. The new forecast of 3.23% is an increase of 0.06 percentage points from January’s forecast.
But government investment remains weak, and there was a notable increase in business investment that pushed up the baseline during the fourth quarter of 2013. These factors have led TIER to revise predictions for private investment growth in 2014 downwards.