Academia Sinica predicts growth in consumer spending and investment this year

June 28, 2005

Academia Sinica, Taiwan's leading academic institution, predicts that the growth in consumer spending in Taiwan will surpass that of 2004 by reaching 3.26% this year. The institution attributes this steady growth to the reinvigorated real estate market and improving unemployment rate. It also projects that private investment in Taiwan, following a 28.2% increase in 2004, will expand by 17.47% this year.

Academia Sinica reports that Taiwan achieved economic growth rates of 2.54% and 2.42% respectively in the first and second quarters. It forecasts growth rates of 4.83% and 5.05% in the third and fourth quarters. Taiwan posted an annual growth rate of 5.71% in 2004.

Institution officials note that, in the face of a sluggish global economy, this significant growth in consumer spending and private investment demonstrates that domestic demand in Taiwan is expanding at a healthy pace.

(Central News Agency)

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