Taiwan cuts 2012 growth forecast - again

Taiwan cut its 2012 growth forecast for a ninth time in just over a year on Wednesday as Europe’s ongoing woes, concerns over the US economy and China’s slowdown kept third-quarter growth below forecasts, but bright spots indicate the economy may have bottomed out.

The economy grew a preliminary 1.02 per cent in the third quarter of 2012 year-on-year, the statistics agency said, below the median forecast in a Reuters poll for 1.55 per cent growth, and ticked up 0.86 per cent from the previous quarter.

via Business feed http://www.scmp.com/business/economy/article/1073850/taiwan-cuts-2012-growth-forecast-again