A global slowdown complicated by the credit crisis at major US and European banks prompted a local economic think tank yesterday to trim its GDP growth forecast this year for a second time to 3.82 percent.
The Chung-Hua Institution for Economic Research (CIER, 中經院), which advises the government on major policy issues, adjusted downward projected GDP growth from the 4.5 percent it estimated in July, Wang Lee-rong (王儷容), director of the institute’s Center for Economic Forecasting, told a media briefing.<...more>
By Crystal Hsu
STAFF REPORTER
Saturday, Oct 18, 2008, Page 12
Taipei Times