Institute forecasts economic growth rate of 1.68% for 2017

An academic research institute forecast Thursday that Taiwan's economic growth rate for 2017 will be 1.68 percent, mainly because economic performance in the developed and developing countries, as well as emerging markets, will stabilize, which in turn will help the country's exports and investment.

The Institute of Economics of Academia Sinica, the nation's highest academic research organization, said in a report on the economic outlook for 2017 that the domestic economy in the first half of 2016 did not show remarkable improvement.

But in the second half of the year, buoyed by demand for smart products, exports rebounded, which led to investment by the nation's manufacturing industry.

It forecast that the real economic growth rate for 2016 will be 1.23 percent.

It also forecast that the economic growth rate for next year will be 1.68 percent, with the highest point coming in the first quarter, at 2.25 percent.

The remaining three quarters will record growth rates of 1.92 percent, 1,48 percent and 1.14 percent, respectively, the institute forecast.

Source: Focus Taiwan News Channel