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Taiwan cuts growth outlook to 2.27% as IT export loses shine

Smartphone slowdown on mainland and trade war expected to slow investment

The government in Taipei lowered its GDP forecast for 2019, but expects Taiwan's exports to rebound later in the year.   © Reuters

TAIPEI -- Taiwan downgraded its economic outlook for 2019 on Wednesday due to sluggish exports, projecting 2.27% growth in real gross domestic product for the island's slowest uptick in three years.

The forecast from the Executive Yuan falls 0.14 percentage point lower than a projection issued in November. Taiwan achieved 2.63% growth in 2018, and the island's potential growth rate is thought to be just below 3%.

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