Taiwan economy shows signs of slowing: Government
Taiwan's economy showed signs of slowing last month, the economic planning agency said Wednesday.
By Agencies |
TAIPEI: Taiwan's economy showed signs of slowing last month, the economic planning agency said Wednesday.
The index of leading indicators for July fell 0.6 percent from June, when the index was already down 0.4 percent from the previous month, the Council for Economic Planning and Development said.
The index is used to evaluate economic performance in the upcoming three to six months.
The July index of coincident indicators, which tracks the current pace of economic activity, fell 0.7 percent from June, the council said.
Last week, the government lowered its GDP growth forecast for 2008 to 4.30 percent from 4.78 percent forecast in May, saying consumption has been hurt by rising inflation.
Analysts said a global economic slowdown is expected to have an impact on Taiwan's exports, a major engine of economic growth.
The index of leading indicators for July fell 0.6 percent from June, when the index was already down 0.4 percent from the previous month, the Council for Economic Planning and Development said.
The index is used to evaluate economic performance in the upcoming three to six months.
The July index of coincident indicators, which tracks the current pace of economic activity, fell 0.7 percent from June, the council said.
Last week, the government lowered its GDP growth forecast for 2008 to 4.30 percent from 4.78 percent forecast in May, saying consumption has been hurt by rising inflation.
Analysts said a global economic slowdown is expected to have an impact on Taiwan's exports, a major engine of economic growth.
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