UBS raises forecast for nation’s GDP to expand 11 percent

By Crystal Hsu / Staff reporter Add TT as Preferred Source UBS Group AG has again raised its GDP growth forecast for Taiwan, projecting the economy would expand 11 percent this year, up from its previous estimate of 9.9 percent growth. The upgrade came as the artificial intelligence (AI) boom continues to exceed expectations, and its impact broaden beyond the technology sector into exports, capital investment and domestic demand, UBS said yesterday. If realized, the growth rate would rank among Taiwan’s strongest performances in nearly four decades, UBS senior Asia economist William Deng (鄧維慎) said. Trucks transport shipping containers at the Port of Keelung on Tuesday last week. Photo: Ritchie B. Tongo, EPA It is one of the most optimistic forecasts among major institutions. Deng said he