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Taiwan's economic outlook remains positive: bank
Central News Agency
2014-06-10 11:09 AM
Taipei, June 10 (CNA) Taiwan's economic outlook remained positive despite lower-than-expected export growth in May, according to Australia and New Zealand Banking Group Ltd. (ANZ) Tuesday. "Taiwan's May trade data may have suffered from the distortions caused by fewer working days due to the different timing of holidays," the bank said in a statement. "We remain positive on the external outlook facing Taiwanese manufacturers," it said. Taiwan's exports in May grew 1.4 percent year-on-year, below market expectations of 4.5 percent and lower than the 6.2 percent export growth posted in April. Imports contracted by 2.3 percent year-on-year in May, much weaker than market expectations of 10.2 percent growth. ANZ said the decline may have reflected weakening investment sentiment among Taiwanese manufacturers as the uncertainty caused by opposition to trade pacts with China starts to bite. (By James Lee)
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