Thu, Nov 01, 2012 - Page 1 News List

DGBAS revises GDP growth down again

LIMITED MOMENTUM:A DGBAS official said the economy has been in a state of ‘anemic growth,’ while the Cabinet said it was cautiously optimistic about next year

By Amy Su  /  Staff reporter

Sydney-based Moody’s Analytics associate economist Katrina Ell said in a note that the disappointing growth in the third quarter indicated exports and production had improved, but remain weak, keeping domestic demand soft.

Tony Phoo (符銘財), a Taipei-based economist at Standard Chartered Bank, said the latest data should provide comfort to monetary policymakers that the economiy has bottomed out in the first half of this year and is likely to stage a modest rebound into the first half of next year. He added that the central bank might keep the policy rate unchanged at 1.875 percent during next board meeting scheduled for next month, considering the high inflation is expected.

Additional reporting by Shih Hsiu-chuan and Chris Wang

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