Taiwan to see recovering economy in second half: Perng.
Many banking executives here believe that Perng's comment would give a big boost of confidence to Taiwan's financial market, which has been plagued by the global financial upheaval.
However, Perng said that Taiwan's economic growth in the second quarter might be negative compared to the same quarter of last year; but would turn positive after seasonal adjustment. This imply that Taiwan's economy would bounce back from the bottom hit in the first quarter.
Perng noted that Taiwan's economy, if based on JP Morgan's prediction, would see annual growth of 6.8% in the third quarter and 6.9% in the fourth quarter, which would be much better than the corresponding percentages in Japan and the United States.
JP Morgan's Forecast of Quarterly Economic Growth in Taiwan, the U.S., and Japan for 2009 Unit: % Q1 Q2 Q3 Q4 Taiwan -3.4 5.7 6.8 6.9 U.S. -5.7 -0.5 1.0 2.0 Japan -15.2 2.5 2.0 4.5 Source: JP Morgan
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|Title Annotation:||Perng Fai-nan|
|Publication:||The Taiwan Economic News|
|Article Type:||Brief article|
|Date:||Jun 18, 2009|
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