Why Taiwan's GDP growth forecast is likely to be trimmed down

Expect a revision to 3% or lower.

According to DBS, the government is expected to downgrade the 2013 growth forecast this Friday when announcing the final estimate of the 1Q GDP.

It will be no surprise to see a revision to 3.0% or even lower, significantly down from the current forecast of 3.59%.

Here's more from DBS:

Growth slowed in the beginning quarter of this year after a temporary acceleration in 4Q12. Given a lacklustre global economic environment, momentum in Taiwan’s export-oriented manufacturing sector will likely remain weak in 2Q.

PMI has stayed marginally higher than 50 for five consecutive months as of April (50.0-51.5). Based on the PMI survey, new orders and production amongst Taiwanese manufacturing firms continued to increase in April, but the rate of expansion was modest and it has slowed slightly compared to the previous month.

Accordingly, April’s key economic data to be released this week will likely remain discouraging. We expect export orders to fall -2.3% and industrial production to slip -0.1% YoY.

Also Read

Singapore ranks second in global economic freedom

Economists forecast modest NODX growth for Singapore in 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit