Consumer confidence shed 2.4 points to 74.88 this month, as a spike in COVID-19 infections hit all six indices, which could further weaken next month, a National Central University survey released yesterday found.
Stock investments reported the biggest fall, with the index tumbling 10.9 points to 46, as the TAIEX plummeted 2,500 points in a week early this month following the latest outbreak and concern that major central banks might tighten monetary policy ahead of schedule to tackle rising inflation, said Dachrahn Wu (吳大任), director of the university’s Research Center for Taiwan Economic Development, which conducted the survey.
Liquidity-driven rallies across
Taiwan’s GDP forecast to grow 4.1%
RARE POSITION: IHS Markit expects exports to increase by about 13 percent this year, as demand for electronics worldwide has recovered significantly since last year
By Crystal Hsu / Staff reporter
Taiwan’s economy might expand 4.1 percent this year, accelerating from a 3.11 percent pickup last year, as its exports would continue to benefit from surging demand for electronics products amid and after the COVID-19 pandemic, global research body IHS Markit said yesterday.
Taiwan has been one of the world’s most resilient economies during the pandemic-triggered recession last year.
Economic indicators at the beginning of this year signal improving growth momentum for its economy over the coming months, as the global economy and trade rebounds, the US-British information provider said.