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Taiwan lowers 2020 GDP forecast again on pandemic impact

TAIPEI (Reuters) -- Taiwan's economy is expected to grow 1.56% in 2020, the statistics agency said on Friday, downgrading a previous forecast of 1.67% predicted in May due to the impact of the coronavirus pandemic, but saw a strong rebound next year.

Second-quarter annual GDP growth was revised slightly higher to a 0.58% contraction from a preliminary 0.73% decline, the Directorate General of Budget, Accounting and Statistics said.

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