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Report shows consumer confidence rising slightly

Consumer confidence rose slightly this month from last month, with public sentiment toward stock investment and consumer prices showing some improvement, according to a report released by National Central University yesterday.

The consumer confidence index (CCI) climbed 0.44 points this month from the previous month to 66.53, the university's Research Center for Taiwan Economic Development said in the report.

The index has dropped from as high as 68.34 points in July. It was 66.09 last month.

public expectations

The CCI benchmark gauges public expectations concerning stock performance, household finances, durable goods, job opportunities, consumer price fluctuations and the economic outlook over the next six months.

The center polled 2,343 people over the age of 20 nationwide last Friday and Saturday.

Yesterday's CCI report indicated that public opinion was primarily upbeat about stock investments for the next six months, with its stock investment sub-index showing the biggest jump, by 3.2 points, to 86.20.

A total of 35.3 percent of people polled said they would invest in stocks, up from 33.7 percent when the same survey was conducted last month, while 49.1 percent said they would stay away from the market in the near future, down from 50.7 percent in the previous month, the report said.

The nation's stock benchmark TAIEX yesterday rose 156.18 points, or 1.69 percent, to close at 9,413.65, its highest finish since July 26, according to Taiwan Stock Exchange tallies.

The public's confidence in commodity prices for the next six months also rose slightly in this month's survey, with the price sub-index edging up 0.3 points to 30.15.

trending down

The commodity price sub-index has been trending down since April 2004 in the wake of the continual rise in raw material prices worldwide.

Last month it hit its lowest level since the CCI survey was initiated in January 2001, 29.85 points.

The other four sub-indices all showed minor declines from 0.05 to 0.15 points, indicating continued pessimism about the economic outlook, household finances, job opportunities and durable goods purchases, in the next six months.
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