Confidence in the local economy improved slightly this month as worries over COVID-19 infections eased, while faith in the local stock market was also bolstered by a robust share price rebound, Cathay Financial Holding Co (國泰金控) said yesterday, citing a survey it conducted from Aug. 1 to 8.
The survey showed that 25.2 percent of respondents thought the economy improved last month, while 49.3 percent said the economy worsened, Cathay Financial said.
The figures translate into an economic optimism index of minus-24.1, up from minus-36.2 a month earlier, it added.
Photo: Fang Pin-chao, Taipei Times
Economic sentiment also improved, with the economic optimism index for the next six months rising to minus-43.8 from minus-60.7, it said.
The local equity market optimism index for the next six months rose sharply to minus-13.6 from minus-30.5, thanks to a TAIEX rebound this month, while the index assessing investors’ appetite to take risks improved to minus-5.5 from minus-14.3, the survey showed.
With improving sentiment toward the economy, the index assessing willingness to buy big-ticket items improved to minus-1.4 from minus-6.9, while the index gauging plans to buy homes fell from minus-57.9 to minus-58, the lowest in more than five years, the survey found.
The index assessing willingness to sell homes rose to minus-12.6 from minus-17.4, ending a four-month decline, it found.
Respondents on average estimated Taiwan’s economic growth at 2.76 percent for this year, up from 2.68 percent in a similar survey last month, with 73 percent saying they expected annual growth to top 2 percent
Respondents expected the consumer price index to reach 3.02 percent this year, slightly down from 3.03 percent in last month’s poll, with 58 percent expecting it to exceed 3 percent, the survey showed.
The survey collected 20,127 valid online questionnaires from clients of Cathay Life Insurance Co (國泰人壽) and Cathay United Bank (國泰世華銀行), which are wholly owned by Cathay Financial.
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