TAIPEI -- The Taiwan Research Institute on Wednesday said the island's economy will grow by 2.52 percent in 2012, much lower than the 4.02 percent it forecast in mid-December last year, citing the continuing debt crisis in Europe, global economic uncertainty and Taiwan's weak exports.
The prediction marked the first economic forecast below 3 percent made this year by a Taiwanese organization. The island's statistical authorities and three think tanks over the last two months predicted Taiwan's 2012 economic growth rate to be between 3.03 to 3.88 percent.
The Taiwan Research Institute said the island's economy will grow by 0.39 percent, negative 0.18 percent, 3.75 percent and 5.81 percent in each quarter of the year, respectively.
