Taiwan's Directorate General for Budgeting Accounting and Statistics (DGBAS) has revised its 2020 GDP forecast downwards by 0.7 percentage points to 1.67% to take into account the impact of the coronavirus pandemic.
Taiwan's unemployment rate rose by 0.4 percentage points to 4.07% in May, compared with the same month in 2019.
Based on an "advance estimate" by Taiwan's Directorate General of Budget Accounting and Statistics (DGBAS), Taiwan's real GDP rose by 2.73% in 2019 year on year (yoy), driven by strong activity in the fourth quarter of 2019.
The Taiwan government’s Directorate General of Budget, Accounting and Statistics (DGBAS) has officially cut its forecast for gross domestic product (GDP) growth in 2020 to 2.37% in 2020, a downgrade from its earlier forecast of 2.72% made in November 2019, on fears that the spread of the 2019 novel coronavirus (Covid-19) will have an impact on both the domestic and international economy.
Taiwan's core inflation rate decreased in April, according to an official press release yesterday by the Directorate General of Budget Accounting and Statistics (DGBAS).
Taiwan's Consumer Price Index (CPI) fell 0.76% in June 2020, compared with the same month in 2019.
A few encouraging signs exist for people wanting to further their careers. Many Taiwanese say they want to work overseas, as they believe bigger opportunities are available in other countries.More than 60% of Taiwanese said they are inclined to work overseas in 2020 as the country continues to face a serious brain drain due to its comparatively lower salary levels, recruitment experts said.