Economic indicators at the beginning of this year signal improving growth momentum for its economy over the coming months, as the global economy and trade rebounds, the US-British information provider said. Taiwan’s economy is forecast to expand 4.1 percent this year, accelerating from a 3.11 percent pickup last year, research body IHS Markit said yesterday. With an improving economic landscape worldwide following the rollout of COVID-19 vaccines, global demand for electronics products would remain sturdy, IHS Markit said. Demand for industrial electronics is also expected to grow substantially over the medium term, as industrial automation and the Internet of Things would fuel demand for industrial electronics, IHS Markit said. These factors lend support to the medium-term outlook for Taiwan’s electronics sector exports and capital expenditure, which would be key drivers of economic growth, IHS Markit said.

Source: Taipei Times March 01, 2021 15:56 UTC