Tue, Oct 28, 2008 - Page 12 News List

Consumer confidence index at lowest level since 2001


The consumer confidence index dropped 2.1 points this month to 52.22 — the lowest level since National Central University’s Research Center for Taiwan Economic Development began its monthly surveys in 2001.

This month’s index, released yesterday, showed a drop over the previous month.

The six sub-indexes, which reflect consumers’ expectations of economic conditions over the next half year, all declined.

The steepest drop was in the stock category.

The confidence index for the stock market outlook over the next six months was 48.7 this month, representing a drop of 4.7 points, the center said.

In the survey, a score of between zero and 100 is classified as “pessimistic,” while a score of between 100 and 200 is considered “optimistic.” All of the sub-indexes were below 100 this month, the center said.

The second-largest drop in confidence concerned the durable goods market, followed by the job market. The index for durable commodities fell 3.5 points to about 93. The index for confidence in the job market fell 2.7 points to just under 65.

Rounding out the list were confidence in the domestic economy, which fell 0.65 points to 43.6; family finances, which slid 0.55 points to 44.1; and price levels, down 0.5 points to 18.85.

The survey was conducted by telephone with randomly selected respondents over the age of 20 between Oct. 19 and last Wednesday, with a total of 2,456 valid samples.

The authors said the survey has a margin of error of plus or minus 2 percentage points.

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