Taiwan's government has cut its official forecast for the country's GDP growth in 2012 to 2.08%, from a previous estimate of 3.03%, amid a weakening global economy.
Taiwan's economic growth contracted 0.16% in the second quarter from the same period a year earlier, below an earlier estimate of a year-on-year 0.77% increase, the Directorate General of Budget,
Accounting and Statistics said Tuesday.
The department said the consumer price index for 2012 is expected to rise 1.9%, up from an earlier forecast of a 1.84% increase.
The previous forecasts were made in May.
Taiwan's economic growth contracted 0.16% in the second quarter from the same period a year earlier, below an earlier estimate of a year-on-year 0.77% increase, the Directorate General of Budget,
Accounting and Statistics said Tuesday.
The department said the consumer price index for 2012 is expected to rise 1.9%, up from an earlier forecast of a 1.84% increase.
The previous forecasts were made in May.
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