Taiwan’s GDP growth forecast lowered to 2.01pc

TAIPEI, July 21 (Xinhua): Taiwan's economic growth forecast for 2019 has been further lowered to 2.01 per cent, according to the island's Academia Sinica.

Taiwan's outbound orders, exports and industrial production data have all showed sluggish performances due to the trade tensions between the Chinese mainland and the United States, the institution said.

Consumption of durable goods such as automobiles, telecommunications products and household electrical appliances has become conservative while the wholesale industry has seen an obvious drop in sales, it said.