Confidence in Taiwan’s local economy rebounds in July: survey

Cathay Financial survey reveals increase in optimism about current economic conditions

Taiwan News
Date: 2019/07/28
By:  Central News Agency

TAIPEI (CNA) — Local confidence in Taiwan's economy rebounded in July in the wake of a truce in the trade war between the United States and China reached at the G20 summit by U.S. President Donald Trump and Chinese President Xi Jinping (習近平) at the end of June, according to Cathay Financial Holding Co.

Citing a survey conducted from July 1-7, Cathay Financial, one of the largest financial holding firms in Taiwan, said 35.4 percent of respondents thought the local economy was doing worse than six months earlier, while 23.6 percent thought it had improved.

The poll data translates into an increase in optimism about current economic conditions, as reflected in the optimism index, which rose from minus 20.1 in June to minus 11.9 in July, Cathay Financial said.

In addition, according to the financial holding firm's poll, an economic optimism index for the next six months also rose from minus 16.6 in May to minus 7.0 in June.    [FULL  STORY]