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Taiwan to see recovering economy in second half: Perng.

Taipei, June 18, 2009 (CENS)--Quoting a report by JP Morgan, a world-leading financial services firm, Perng Fai-nan, governor of the central bank in Taiwan, indicated that Taiwan, Japan and the United States would see positive economic growth in the second quarter of this year, and Taiwan would see a recovering economy in the follow quarters of the year.

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
Geographic Code:9TAIW
Date:Jun 18, 2009
Words:230
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