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TIER lowers 2012 Taiwan economic growth forecast

2012/04/24 10:17:03

Taipei, April 24 (CNA) The Taiwan Institute of Economic Research (TIER) has lowered its forecast for Taiwan's GDP growth in 2012 because of continuing global economic uncertainty and the country's weak export outlook.

The economic think tank on Tuesday projected Taiwan's economy to grow 3.48 percent this year, 0.48 percentage points lower than the 3.96 percent it forecast in January, citing debt problems in Europe, the weak economic recovery in the United States, and negative export growth in China.

(By James Lee)