Economic predictions going downhill.
“On Thursday, the Taiwan Institute for Economic Research (TIER) revised its economic forecast for this year, predicting the nation’s GDP would contract 2.89 percent year-on-year, worse than its previous estimate of a 1.91 percent decline.”
Funny, really, you’d think people who were predicting 3 significant figures of accuracy would be ashamed of not even getting the first significant figure right, and would avoid repeating their mistake. Apparently not.
Not that it matters, since the real harm to Taiwan’s economy is almost certainly bigger than either of these numbers. I have trouble imagining how Taiwan and Japan’s exports can drop by similar amounts, and yet Japan reports a GDP hit many times times bigger than Taiwan. Doesn’t add up.
http://www.taipeitimes.com/News/editorials/archives/2009/11/08/2003457915
Posted: November 8th, 2009 under Finance & Economics, Taiwan.
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