Confidence in local economy weakens: survey

Focus Taiwan
Date: 2017/01/21
By: Tien Yu-pin and Frances Huang

Taipei, Jan. 21 (CNA) Public confidence in Taiwan’s economy over the next six months has weakened further, although the gross domestic product (GDP) is forecast to grow at a faster pace in 2017 than during the previous year, according to Cathay Financial Holding Co. (國泰金).

Citing a survey conducted earlier this month, Cathay Financial said that 48.1 of the respondents to the poll agreed that the local economy will get worse over the next six months, while only 21.1 percent agreed that the economic fundamentals over the next six months will fare better.

The results translate into a January optimism index toward the economy over the next six months of minus 27.0, down from minus 23.2 recorded in December, Cathay Financial said.

In addition, the economic optimism index for the current economic situation in the January survey also fell to minus 30.2 from December’s minus 27.8, which represents further evidence of caution, the company said.    [FULL  STORY]

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