The Chung-Hua Institution for Economic Research, a leading local think tank, has revised its forecast for Taiwan's 2024 GDP growth upward to 3.96% due to strong demand for artificial intelligence products, booming stock market performance and increased domestic demand.
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00:00A leading economic think tank has upgraded its forecast for Taiwan's economic growth
00:05this year to nearly 4 percent.
00:08The Zhonghua Institution for Economic Research raised its 2024 growth forecast to 3.96 percent
00:15on the back of demand for artificial intelligence products.
00:18It also pointed to booming stock market performance, increased domestic demand and foreign trade.
00:24The think tank's 2024 figure is slightly higher than the International Monetary Fund's
00:29recent forecast for Taiwan of 3.7 percent, the highest among advanced industrial economies.