Wed, Sep 28, 2011 - Page 12 News List

Consumer confidence index drops 1.31 points

By Amy Su  /  Staff Reporter

The consumer confidence index (CCI) dropped 1.31 points from a month earlier to 85.58 this month, with the sub-index for stock performances falling to a two-year low level amid the recent market rout, a National Central University survey showed yesterday.

The result ended the CCI’s previous increases for three straight months. The CCI hit a record high last month.

The CCI benchmark gauges public expectations regarding stock performances, household finances, durable goods, job opportunities, consumer prices and the economic outlook for the next six months.

This month’s survey — which polled 2,418 people over the age of 20 between Monday and Thursday last week — showed increasing public uncertainty over stock performances, household finances, consumer prices and the economic outlook, while sentiment regarding the other two sectors improved.

“Consumers’ rising uncertainty on stock performance reflects the recent tumble in the local bourse led by investors’ fears over the -eurozone debt crisis and the US’ poor economy,” Day Jaw-yang (戴肇洋), a division director at the Taiwan Research Institute (台灣綜合研究院), said by telephone.

The sub-index for stock performances dropped 6.5 points to 69.2, its lowest level since June 2009, while the sub-index for consumer prices went down 1.3 points to 52.55, the report showed.

The sub-indices for household finances and the economic outlook both fell from last month’s record high to 85.3 points and 92.8 points respectively. The two sub-indices stood at 86.45 and 93.55 last month, the survey’s data showed.

However, the fundamentals in the current global economy are better than during the financial crisis in 2008, Day said.

The sub-index for job opportunities — which outperformed the other sectors this month — supports Day’s view, with an increase of 1.75 points to 110.55 this month, its highest level ever, on consumers’ strong confidence in the local job market.

The sub-index for durable goods also rose 0.05 points to 103.05, data showed.

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