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Experts optimistic about Taiwan economic outlook

TAIPEI--Experts expressed optimism over Taiwan's economic growth in 2013 on Sunday, as positive signs showed a continuing global economic recovery that might further boost investments and business inventories.

Gordon Sun, director of the Taiwan Institute of Economic Research's (TIER) Macroeconomic Forecasting Center, said recently that there were positive signs pointing toward economic recovery in the United States, Japan and China.

The momentum is likely to boost businesses to increase their investments, as well as inventories, for the second quarter, Sun said, adding that the Taipei-based think tank forecast that the manufacturing sector's cyclical movement for 2013 will turn from “blue” light, implying recession, to “yellow-blue” light.

The global economic growth forecast for 2013 will be similar to last year, only 0.1 to 0.2 percentage points higher than last year, Sun said, though the public is now “more optimistic.”

Over the past 10 years, Taiwan's economic growth averaged about 4 percent annually, Sun said.

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