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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan's economy to contract 3.59% in 2009: think tank AFP - Saturday, April 18 TAIPEI (AFP) - - Taiwan's economy is expected to contract 3.59 percent in 2009 from a year earlier due to weak demand at home and abroad, an economic think tank said Friday. ADVERTISEMENT In a report, the Taiwan-based Chung-Hua Institution for Economic Research said the island's economy is expected to extend its weakness into this year as the global economic crisis continues to cast a shadow. The think tank's prediction is more severe than the government's February forecast that the domestic economy would contract 2.97 percent in 2009. The research institution said Friday that while cross-strait business exchanges are on the rise amid warming Taiwan and China ties, the benefits need time to be realised. Taiwan's GDP is expected to fall 9.12 percent in the first quarter and decline 6.61 percent in the second quarter, with domestic investment down 29.49 percent, the institution said. However, the island's economy is expected to improve slightly in the second half of this year, it said. The economy is expected to contract 2.37 percent in the third quarter but grow 4.12 percent in the fourth quarter. An 8.36 percent contraction in the fourth quarter last year marked the biggest slump since 1961, when the government started compiling quarterly figures. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China's premier says economy better than expectedAP - 1 hour 19 minutes ago Vietnam reduces taxes to push up demand: govtAFP - 1 hour 40 minutes ago China sets up 10 bln dlr fund for SE Asia: WenAFP - 2 hours 24 minutes ago U.S. closed banks match total for all of 2008Reuters - Saturday, April 18 Related Articles: Business Zurich Financial to buy AIG US unit for $1.9BAP - Friday, April 17 Rosetta Stone shares jump in public debutAP - Friday, April 17 Oil hovers near $50 as recovery doubts lingerAP - Saturday, April 18 Survey: U.S. newspapers shed 5,900 jobs in 2008AP - Friday, April 17 Zurich to buy AIG auto unit for $1.9 billionReuters - Friday, April 17 Enlarge Photo Taiwan's economy to contract 3.59% in 2009: think tank Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Bad mood, better recall, researchers find Police nab Norwegian pair during high-speed sex French warship detains pirates, US urges action Harry Potter actor arrested over cannabis find US economy contracts further, remains weak: Fed View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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