GDP forecast down to 2.4%
Bank of America Merrill Lynch yesterday lowered its GDP growth projection for Taiwan this year, despite better-than-expected growth in the second quarter. Taiwan’s GDP is now forecast to grow 2.4 percent this year, Merrill Lynch said in a research note, dropping its forecast from 2.7 percent on Aug. 1. “The downgrade is largely coming from weaker investment demand and a still challenging export climate,” it said. Merrill Lynch maintained its 3.1 percent GDP growth projection for next year. Last week, the government lowered its GDP growth forecast to 2.31 percent this year, from its 2.4 percent forecast in May. For next year, it predicted a GDP growth of 3.37 percent.
Panel sales continue to dip
Global shipments of large-sized panels continued to drop last month after sliding 2.5 percent the previous month due to the normal slow season effects, WitsView said in a recent note. Large-sized panel shipments totaled 63.2 million units worldwide last month, down 4.2 percent from 65.95 million units the previous month, WitsView said. Notebook panels posted the sharpest decline of 17.7 percent from the previous month to 14.61 million units, while monitors dropped 4.4 percent to 13.4 million units. LCD TV panel shipments fell 2.8 percent month-on-month to 18.25 million units last month, while tablet panel shipments rising 9.9 percent to 16.94 million units, according to the report.