[News] Taiwanese economy slumps into recession

[hisunshine (hisunshine)]

   (CNN) -- Taiwan's economy slumped 8.36 percent during the last
   three months of 2008, the government said Wednesday.


   People line up to receive $108 U.S. dollars worth of shopping
   vouchers in Taipei, Taiwan, last month.

   The island's economy spiraled into recession with its second
   straight quarter of economic losses. For the third quarter of
   2008, Taiwan's real gross domestic product (GDP), adjusted for
   inflation, slipped about 1 percent, according to the Directorate
   General of Budget, Accounting and Statistics.

   Behind the dismal economic numbers is a global recession that is
   sapping demand for the products Taiwan makes.

   "The types of exports that Taiwan ships to the West -- electronics
   -- are very severely affected, very sensitive to changes in
   Western consumer sentiment," said Frederic Neumann, a senior Asian
   economist for HSBC.

   The GDP numbers are the broadest measure of Taiwan's economic
   activity. A recession is defined as two consecutive quarters of
   falling GDP.

   Taiwan's central bank, in a move to boost the economy, on
   Wednesday dropped its key interest rate one-quarter point, to 1.25
   percent.

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   Since the end of 2007, the central bank has lowered rates by more
   than 2 percent.

   In January, the Taiwanese government offered the island's
   residents up to $108 each to go shopping, in another attempt to
   stimulate the economy.

   More than 90 percent of those eligible took up the offer, pumping
   about TW $86 billion ($2.6 billion) into the economy and sending
   shoppers to malls, officials said.


http://www.cnn.com/2009/BUSINESS/02/18/taiwan.economy.2008.q4/


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◆ From: 118.166.6.124
※ 編輯: hisunshine      來自: 118.166.6.124        (02/19 13:22)
推 a85053329:i think not also tw...all of world it is
推 neofire:but we are the worst in asia
推 dosandonts:so sad...we rely on USA too much
推 jbkevin:Well... life is suck
→ d0ggi3:All the more we should treasure our jobs... ...