The consumer confidence index (CCI) last month rebounded from June’s reading, mainly on the back of a stronger outlook for the nation’s securities market, a National Central University survey showed yesterday.
The index increased by 1 point from a month earlier to 76.08 last month, following its first monthly decline this year in June, the survey by the university’s Research Center for Taiwan Economic Development showed.
The index gauges public expectations for the local stock market’s performance, household finances, durable goods, job opportunities, consumer prices and the economic outlook for the next six months.
The survey — which polled 2,433 people over the age of 20 from July 19 to July 23 — showed that only respondents’ concerns over the nation’s economic outlook have increased, while uncertainty over the other five areas eased, the center said in its monthly report.
The stock market sub-index led the rise among the six sectors this month, climbing by 4.3 points to 65.7, as concern over a possible end to quantitative easing in the US receded, the center said in its report.
“The stock market sub-index stood mainly between 60 points and 70 points for this year, showing a significant improvement from last year, confirming the growth of investors’ confidence in buying shares,” director of the center Dachrahn Wu (吳大任) told a press conference.
Despite the slowing economic sentiment, the sub-index of durable goods also rose by 0.9 points from a month earlier to 95.3 points last month, reflecting that property remains an attractive investment target, the report showed.
Meanwhile, the job opportunities sub-index surged by 0.85 points month-on-month to 105.55, followed by the sub-indices of household finances and consumer prices, which showed increases of 0.55 points and 0.1 points to 71.8 and 47.15 points respectively, the report’s data showed.
However, the economic outlook sub-index fell for the third consecutive month, down 0.65 points month-on-month to 71 last month, signifying that consumers remained cautious about the nation’s economic prospects, as GDP in the first half of the year grew less than expected, statistics showed.
However, Wu said he expects economic sentiment in the second half of this year to improve from the first half, in line with market expectations and on the back of a potential economic recovery in the US.