The Taiwan government's moves in revising up its GDP forecasts slightly for 2012 and 2013 are in line with market expectations following better-than-expected export orders and industrial output data, economists say. But they remain cautious about whether there will be sequential economic growth in 2013. "Lingering euro-zone debt crisis and uncertainty in the U.S. fiscal cliff will still likely affect negatively on the island's economy until the second quarter of 2013," Mega Securities economist Lucas Lee says, and he expects the economy may hit bottom in 3Q 2013 at the latest. Sinopac Securities economist Chuang Rehong notes the government's latest forecast shows sequential growth in 2013, reversing the trend it previously estimated in August; "it suggests the government is likely to launch more policy measures to boost the economy next year." The government now expects 2013 GDP to expand 3.15%, up from a 3.09% growth previously estimated.
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