Public confidence in Taiwan’s economy improved this month amid a stabilizing COVID-19 situation and relaxed disease prevention measures, a Cathay Financial Holding Co (國泰金控) survey showed on Wednesday.
The survey of 22,037 people conducted from Sept. 1 to 7 showed that nearly half of respondents expected the local economy to improve over the next six months, compared with 48 percent in a poll conducted early last month.
The survey was conducted online on clients of Cathay Life Insurance Co (國泰人壽) and Cathay United Bank Co (國泰世華銀行), which are fully owned by Cathay Financial.
Photo: Fang Pin-chao, Taipei Times
Respondents on average expected Taiwan’s economy to grow 4.23 percent this year, higher than the 4.17 percent expected last month, Cathay Financial said in a statement.
The improved economic sentiment also prompted more people to invest in the stock market, it added.
The poll showed that 25.6 percent of respondents expected the job market to improve, up from 23.5 percent last month.
However, 33.6 percent of respondents expected the job market to worsen, down from 39.3 percent last month, it showed.
The survey showed that 38.7 percent of respondents planned to make big-ticket purchases over the next six months, while 23.1 percent planned to buy durable goods, compared with 38 percent and 22.3 percent respectively last month.
Despite the improving outlook, a majority of 62.7 percent expected that their salaries would remain unchanged over the next six months, while 20.8 percent expected a raise and 16.5 percent expected less income, it showed.
Nearly 80 percent said that prices of consumer goods appear to have increased, and 75 percent said they expect the trend to continue over the next six months, the survey showed.
On average, respondents expected a 2.05 percent consumer goods price increase this year, compared with an average increase of 2.03 percent expected last month, the survey showed.
The government’s latest consumer price index forecast predicted a 1.74 percent upswing this year.
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