Think tank lowers projection for Taiwan's economy for 2017

Updated 2016-12-21 16:30:34 Xinhua

A Taiwan think tank lowered its projection for the island's economy in 2017 on Tuesday due to higher comparison basis and a range of overseas uncertainties.

Taipei-based Chung-Hua Institution for Economic Research (CIER) forecast Taiwan's economy would grow 1.73 percent in 2017, compared with its October's estimate of 1.81 percent.

The new projection was made after the institution raised its forecast for 2016 from 1.03 percent to 1.26 percent.

The first quarter of 2017 is expected to see annualized growth of 2.4 percent of the year, while growth will slow in subsequent quarters, it said.

CIER President Wu Chung-shu said at a seminar on Tuesday that the uncertainty facing the island's economy includes U.S. policy, oil and commodity prices, along with economic growth and credit risk in the Chinese mainland.

CIER also predicted Taiwan's consumer inflation to stand at 1.45 percent next year, and averaged unemployment to reach 3.92 percent.

Taiwan's economy expanded 0.65 percent in 2015 after lackluster global economy sapped demand for Taiwan-made products.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58April 27 2018 06:50:35

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16April 27 2018 06:50:35

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18April 27 2018 06:50:35

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords