The Taiwan Institute of Economic Research’s latest forecast shows that Taiwan’s 2024 economic growth model remains tepid, with a projected GDP growth rate of 3.85%, revised upward by 0.56 percentage points from the previous forecast.
The proportion of manufacturing firms that perceived their business as better than expected in the target month was 15.2%, a decrease of 13.3 percentage points compared to respondents who perceived their business as better in the previous month. On the other hand, the proportion of those who perceived their business as worsening in the target month was 31.0%, an increase of 14.5 percentage points compared to the 16.5% of respondents who perceived their business as worsening in the previous month.
The survey also found that producers of industrial chemicals, petrochemicals, man-made fibers, and other chemical products are less optimistic and expect their business to remain sluggish over the next six months.
Read the full article on tier.org.tw: The Taiwanese Economy in June 2024
