Taiwan economy to recover, says survey

Taiwan's economy has started to recover after labor market performance improved, according to a survey published on Monday.

Published by Cathay Financial Holdings, a local major financial institution, the survey showed that although Taiwan's economy does not have strong momentum for growth, financial situations on the island have returned to stability due to improved international economic and political circumstances.

People's views on the overall business situation rose again in December to the highest level in eight months.

The survey, based on a 8,356 questionnaires, found that Taiwan's manufacturing sector showed signs of recovery, making people feel optimistic about the job market. The people's employment outlook index also rose to the highest in recent months.

As expectation rises and the year-end spending spree approaches, the willingness to spend is also on the rise.

Elsewhere, the outlook index of the stock market saw significant rebounds this month to -9.1 from -36.5 last month.

The Taiwan stock market rose 7.7 percent in the nine trading days after Nov. 23.