Taiwan Cuts 2016 Economic Outlook as Exports Seen Falling

Taiwan cut its economic growth forecast for 2016 as China’s slowdown weighs on export demand.

The economy will expand 1.47 percent this year, less than an earlier projection of 2.32 percent, the statistics bureau said Wednesday. Gross domestic product contracted 0.52 percent in the fourth quarter from a year earlier, steeper than the originally reported 0.28 percent decline.