TIER raises 2024 GDP forecast to 3.85%GROWTH: TSMC increased its projected revenue growth for this year to more than 25 percent, citing stronger-than-expected demand for AI devices and smartphonesBy Crystal Hsu / Staff reporterThe Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent, as exports and private investment recovered faster than it predicted three months ago. The Taiwan Institute of Economic Research yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent. Photo: CNATaiwan is home to major suppliers of high-end chips, servers, storage, memory and other devices used in AI tools and solutions. Imports, a critical gauge of capital equipment and input material purchases to meet export needs, might rise by 7.29 percent, up from 6.64 percent, the TIER said. The sense of wealth inflation would likely have evaporated this month as a result of rapid and deep share price corrections.

Source: Taipei Times July 25, 2024 20:11 UTC