Taiwan cuts outlook
TAIPEI: Taiwan on Friday cut its growth forecast for 2015 for the second time since August, to 1.06 per cent, while also lowering expectations for next year amid slumping exports. The full-year figure was adjusted down 0.50 percentage point from August when the Directorate General of Budget, Accounting and Statistics made the previous estimate. Taiwan has been struggling to spur growth in its export-focused economy, which has suffered with a slow recovery from the global financial crisis while also facing stiffer competition in the key tech sector. It also trimmed its 2016 forecast to growth of 2.32 per cent, from 2.7 per cent.
