Taiwan raises 2012 growth outlook on China, US recovery signs
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
Taiwan raised its 2012 growth outlook for the first time in over a year on Friday as demand for its hi-tech electronic exports picks up in its top markets, China and the United States. The government lifted its full-year 2012 growth forecast to 1.13 per cent from 1.05 per cent and its 2013 forecast to 3.15
per cent from 3.09 per cent, following the release of revised
gross domestic product data for the third quarter.
On a quarterly, seasonally adjusted basis, the economy grew
0.96 per cent compared with a preliminary reading of 0.86
per cent, indicating it carried slightly more momentum into the
current quarter than previously anticipated. On a year-on-year basis, final third-quarter GDP grew 0.98 per cent, little changed from an advance estimate of 1.02 per cent growth released in late October, the government said.
"It makes sense the government adjusted its 2012 GDP target.
Taiwan's economy is picking up in Q4 after bottoming out in Q2," said Tony Phoo, an economist at Standard Chartered Bank in Taipei. Taiwan's central bank would keep interest rates unchanged until at least the first half of next year, Phoo predicted.
Glimmers of hope
Like other export-reliant Asian economies, Taiwan has seen a
sharp deterioration in external demand for its goods this year
and a subsequent slump in industrial production, but recent
signs of improvement in China and the United States have offered some hope that conditions may be stabilising.
Data earlier on Friday showed Taiwan's industrial output climbed 4.56 per cent in October from a year earlier, picking up from a 2.88 per cent pace in September. Taiwan's export orders grew by a stronger-than-expected 3.2 per cent in October as U.S. retailers stocked up on popular electronic gadgets for the Christmas shopping season, offering more hope that the Asian economy may be turning the corner.
- Paddy shortfall blamed for mystery death of procurement officer
- 'Bookie' Vindoo was close to BCCI chief’s son-in-law: cops
- Net widens, police watching three more players, new set of bookies
- Suspected Islamists behead soldier on London street
- Malegaon 2006 case: NIA names four right wing terror suspects
- BJP invokes 'sarcasm, ridicule' against PM