60% of Taiwanese expect year-end bonus of 1-3 months

TAIPEI (Taiwan News) — Cathay Financial Holdings released an economic confidence survey for December, finding 59.3% of Taiwanese respondents expect year-end bonuses of one to three months, while 8.3% expect bonuses in excess of three months.

Cathay Financial said interest rate cuts by leading central banks led to improved expectations for improved global economic data, and gains in international stock markets. Correspondingly, the survey found the public optimism index for Taiwan stocks rose significantly from -0.4 in November to 16.1. in December, per Liberty Times.

The Directorate General of Budget, Accounting and Statistics (DGBAS) pegged Taiwan’s economic growth rate at 3.35% in 2024, and inflation at 1.64% in 2024. Cathay Financial’s survey for December, however, showed the public being more conservative, expecting growth of only 2.52% in 2024. Regarding salaries next year, 45.9% of survey respondents expect salaries to increase, an increase of 13.2% from the 2022 survey results.

Cathay Financial's monthly survey also saw an increase in the public optimism index compared to the previous month, with more people willing to commit to durable goods consumption. And in terms of housing, only a slight change was noted in the willingness to buy a house, and similarly, small gains were seen in the willingness to sell a house.