The China Post
Date: July 25, 2016
By: CNA

TAIPEI–Confidence in the local economy has shown signs of weakening amid concerns that the decision of the United Kingdom to leave the European Union will send ripples through the global economy and affect domestic fundamentals, according to Cathay Financial Holding Co. (國泰金).

Citing a monthly survey conducted by the financial holding company, Cathay Financial said that 44.3 percent of the 17,645 respondents predicted that the local economy will get worse over the next six months, while 21.7 percent said that the local economy will improve.

The results translate into a July optimism index toward the economy over the next six months of minus 22.7, a fall from minus 8.5 recorded in June, the survey shows.

In the same survey, 47.5 percent of the respondents said the local economy was weaker than six months earlier, while only 16.2 percent of them said that the economic fundamentals had improved from six months earlier.     [FULL  STORY]