[Economics] Academia Sinica Releases 2010 Taiwan Economic Forecast: Out of Recession

[Economics] Academia Sinica Releases 2010 Taiwan Economic Forecast: Out of Recession (Chinese Version)

Academia Sinica Newsletter (2009/12/22) Since July 1999 the Macroeconomic Forecast Team at Academia Sinica's Institute of Economics has been forecasting Taiwan's economy twice a year and publishing the results in the bulletin Taiwan Economic Forecast and Policy. The Institute's forecast of 2010 Taiwan Economic Forecast was announced by Institute of Economics Research Fellow Dr. Ray Yeutien CHOU at a press conference on 22nd-December, 2009.

After suffering from the worst and deepest recession after War, the pace of global economic downturn has finally come to an end. Taiwan's economy is apparently in recovery. Growth in commodity exports rose to a positive figure, 19.4%, in November of 2009. The manufacturing production index revealed the greatest growth rate since last May in 2008, and went up to 8.04% in October of 2009. Accompanying the recovery position in manufacturing, the service sector also disclosed an upward trend with the wholesale, retail and restaurant business shifting toward 4.16%, the highest figure in 16 months. Gross domestic product (GDP) is expected to increase 7.17% during the fourth quarter in 2009.

The outlook for 2010 is expected to extend the current recovery that started in the latter half of 2009. The international financial markets and trade are regaining pace. Stimulated by the expectation of a global recovery, the investment in Taiwan is expected to increase to 7.81%. The booming Taiwan stock market will further help stimulate private consumption via positive wealth effect toward 1.85%. Overall, real gross domestic product (GDP) growth is predicted to rise by 4.73% in 2010.

Please check the following website for the complete report:
http://www.econ.sinica.edu.tw/index.php?foreLang=en


Media contacts:
Fang-hsun YEH, hongsum@gate.sinica.edu.tw
(Tel) 886-2-2789-8824 (Fax) 886-2-2782-1551 (M) 0922-036-691
Mei-hui LIN, mhlin313@gate.sinica.edu.tw
(Tel) 886-2-2789-8821 (Fax) 886-2-2782-1551 (M) 0921-845-234
Public Relations Office, Central Office of Administration, Academia Sinica


Further Information:
Academia Sinica Newsletter 2009/12/22



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