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Forecast for Taiwan's manufacturing output raised
Central News Agency
2014-07-30 10:23 AM
Taipei, July 30 (CNA) A research center has raised its 2014 growth forecast for the output value of Taiwan's manufacturing sector, citing a warming global economic climate. The sector's output value is expected to grow by 3.19 percent to NT$17.75 trillion (US$589.12 billion) in 2014, according to the forecast released Wednesday by the Industrial Economics and Knowledge Center (IEK) under the government-sponsored Industrial Technology Research Institute. In April, the IEK predicted that Taiwan's manufacturing output would grow by an annual 3.1 percent in 2014 to NT$17.73 trillion. The forecast is consistent with the recent upward adjustments of Taiwan's 2014 gross domestic product (GDP) growth made by many agencies and think tanks. The government raised its growth forecast for 2014 in May to 2.98 percent, from 2.82 percent estimated in February. The IEK attributed its upward revision to expectations of brisker exports and higher domestic consumption this year due to the strengthening of the global recovery. (By James Lee)
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