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Cathay Financial hikes GDP forecast

Cathay Financial Holding Co (國泰金控) yesterday raised its GDP growth forecast for Taiwan to 6.1 percent for this year and 3.9 percent for next year, citing a recovery in private consumption and continued growth in exports. In September, the firm forecast growth of 5.6 percent for this year and 3.5 percent for next year. Although the uncertainty of the COVID-19 pandemic persists, domestic consumption has significantly recovered in the fourth quarter, alleviating most economists’ main concerns regarding the local economy this year, said National Central University economics professor Hsu Chih-chiang (徐之強), who heads a research team commissioned by Cathay Financial. Retail sales rebounded

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Cathay increases economic growth forecast to 4.2%