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Taiwan slowly pulls out of short recession
TAIWAN’S economy edged out of recession in the first quarter, but in a sign that Asia’s exporters are not quite out of the woods yet, the government cut its full-year forecast for a fourth time and flagged an increased inflation risk.
After two quarters of contraction, the economy grew 0.26 per cent in the first quarter, marking what is likely the bottom for the current business cycle.
But the government trimmed its growth forecast for 2012 to 3.38 per cent from 3.85 per cent, showing that recovery will be uneven.