Taiwan’s consumer confidence index (CCI) this month dropped by 3.18 points to 53 points, well below 100 points, indicating that the consumer mood has become “more pessimistic,” results of a survey showed yesterday.
The index’s six sub-indices, which reflect consumers’ expectations of six economic conditions in the coming six months all dwindled this month compared to last month’s levels because of the impact of Typhoon Morakot, according to a press release issued by the Research Center for Taiwan Economic Development (RCTED) under National Central University, which conducts the survey on a monthly basis.
The six economic conditions are: product price level; family economic condition; employment opportunities; business climate; whether it is a good or bad time to buy stocks and whether it is a good or bad time to buy durable goods.
The six sub-indices all scored below 100 points, indicating that the overall economic mood of the consumers is “relatively pessimistic.” Scores in the range between 100 to 200 reflect a “more pessimistic” mood among consumers.
Taiwan’s CCI surged to a one-year high of 56.18 points last month — the same level as in July last year, the RCTED said.
The first sub-index concerning consumer product prices posted the largest monthly decrease of 13.55 points to 29.95 points this month — a record low in this category and the lowest among the six sub-indices, the survey showed.
The research center ascribed the drop to the adverse effects of Typhoon Morakot, which lashed southern Taiwan early this month and which have sent the price of vegetables, fruits and meat soaring in Taiwan’s retail markets.
The fifth sub-index regarding whether it is a good or bad time to buy stocks in the coming six months saw the second-largest fall of 3.2 points to 78.8 points.
The sixth sub-index about whether it is a good time to buy durable goods also dropped by 1.3 points to 81.2 points for this month, the survey showed.
The third sub index concerning the job market stood at a historic low of 32.4 points, down by 0.7 points from last month — indicating that Taiwanese are strongly concerned about employment opportunities in the coming six months.
The score for the prospects of family economic conditions and business climate declined to 51.85 points and 43.8 points, representing a fall of 0.3 points and 0.05 points, respectively, the survey found.
The research center conducted the telephone survey between Aug. 19 and Saturday, questioning 2,308 citizens who are more than 20 years old. It had a margin of error of 2 percentage points.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
RSS