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Taiwanese pessimistic on economic outlook

More than 85% of Taiwanese are expecting prices to increase in the coming six months, while 34% think finding a job will become harder as COVID-19 outbreaks linger and geopolitical tensions escalate. A survey by Cathay Financial Holding Co found that 36% of respondents had an optimistic outlook about the nation’s economy in the coming six months, while 33.3% believed the economy would deteriorate. The narrowing gap between the optimists and pessimists came as intensifying military tensions between Russia and Ukraine jolted global markets and deepened inflation concerns. Cathay, Taiwan’s largest financial service provider by capitalisation, said the latest figures represent a noticeable retreat in risk appetite from last month, which likely has to do with corrections in global technology shares ahead of expected monetary tightening by major central banks.

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