Bank clients more downbeat than government on economy: poll

Taiwan News
Date: 2016-03-18
By: Central News Agency

Taipei, March 18 (CNA) More than 50 percent of bank clients in Taiwan think that the domestic economy will grow by no more than 1.4 percent this year, which is lower than the government’s latest forecast, according to a survey released Friday by Cathay Financial Holding Co.

In mid-February, the Directorate General of Budget, Accounting and Statistics lowered its forecast for Taiwan’s 2016 economic growth from 2.32 percent to 1.47 percent, citing a worse than expected export performance amid weakening global demand.

However, 50.9 percent of the respondents in the Cathay Financial poll projected an even lower economic growth of below 1.4 percent this year, while 8 percent estimated a more than 2 percent annual growth.

Despite the downbeat outlook toward the 2016 economic growth, however, the poll showed a higher economic optimism index.     [FULL  STORY]

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