Sat, Feb 28, 2009 - Page 12 News List

Consumer confidence dips further: poll

By Kevin Chen  /  STAFF REPORTE

Consumer confidence this month dropped slightly from last month, affected by the gloomy view on household finances, the economic outlook and job opportunities, a survey released by the National Central University yesterday showed.

The survey underlined growing pessimism among the public, with the government reporting this week that the unemployment rate last month rose to 5.31 percent, a new high since October 2002, while export orders fell by a record 41.67 percent from a year earlier.

The Consumer Confidence Index (CCI) declined to 48.42 points this month from 48.95 last month, the university’s Research Center for Taiwan Economic Development said in a statement.

A CCI figure of less than 100 points indicates that the public is pessimistic about the outlook for the next six months, while a score of between 100 and 200 points demonstrates optimism, the center said.

The monthly poll, which interviewed 2,205 people between Feb. 19 and Feb. 22, gauges public expectations on stock performance, household finances, durable goods, job opportunities, consumer prices and the economic outlook.

Four of the six sub-indices dipped in the survey, with the job opportunities sub-index showing the biggest decline.

The survey also showed that the consumer price sub-index rose this month, while stock investment sentiment was unchanged.

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