TIER lifts GDP forecast to 10.38 percent - Taipei Times

THIRD ABOVE-10 PREDICTION:

The institute said its revision reflects accelerating global AI adoption, but warned that deglobalization is adding to inflationary pressures

By Crystal Hsu / Staff reporter

Add TT as Preferred Source

Taiwan’s artificial intelligence (AI) boom and record export growth prompted a local think tank to sharply raise its economic outlook, adding to a growing consensus that the economy would expand more than 10 percent this year, despite rising inflation risks.The Taiwan Institute of Economic Research (TIER, 台經院) yesterday lifted its forecast for GDP growth to 10.38 percent from 7.56 percent in April, a revision of 2.82 percentage points.The upgrade makes TIER the third major domestic research institute to project growth above 10 percent, following Academia Sinica (中研院) and the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院).