Confidence in Taiwan’s economic outlook weakens: poll

Taiwan News
Date: 2020/08/22
By:  Central News Agency

(AP photo)

Confidence in the outlook for the domestic economy weakened in August, due to a continued increase in the number of COVID-19 cases worldwide, according to Cathay Financial Holding Co.

Citing a survey it conducted in the first week of August, Cathay Financial said confidence in Taiwan's export-oriented economy has also been spooked by the growing trade tensions between the United States and China, which could affect global demand.

In the Aug. 1-7 survey, 41 percent of Cathay Financial clients said they expected the domestic economy to improve over the next six months, while 38.2 percent said it would deteriorate.

That translated into an optimism index of 1.9 for the domestic economy over the next six months, down from 13.1 in a similar poll in July, Cathay Financial said.
The optimism index for the current economic situation, however, rose to 2.9 in August from minus 18.2 in July, according to the company.    [FULL  STORY]

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