Wed, Oct 30, 2013 - Page 13 News List

Consumer confidence at 18-month high: survey

By Amy Su  /  Staff reporter

The consumer confidence index (CCI) this month rose to its highest level in one-and-a-half years, thanks to an improving outlook for the nation’s stock and housing markets, a National Central University survey showed yesterday.

The index stood at 78.47 this month, up 1.97 points from a month earlier, reaching its highest level since April last year, the university’s Research Center for Taiwan Economic Development survey 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 2,429 people over the age of 20 from Oct. 19 to Tuesday last week — showed that the public’s uncertainties over the six areas have all eased, the center said in its monthly report.

The stock market sub-index led the rise among the six sectors this month, increasing by 8 points to 71.4, marking the highest level since August 2011, while the sub-index for durable goods rose by 2.2 points from a month earlier to 101.25 points this month, exceeding the 100-point threshold to indicate optimistic sentiment, the report’s data showed.

The results this month also marked the second-largest increase among the six sectors, and reached its highest level since September 2011, statistics said.

“The news that the US will delay the QE [quantitative easing] exit has had a positive impact on the nation’s property market,” center director Dachrahn Wu (吳大任) told a press conference.

Despite some volatility, consumer confidence has been in an upturn trend this year, Wu said, adding that recent food safety issues may not have a significant impact on consumer confidence.

The sub-index for consumer prices increased by 1.1 points from a month earlier to 48.15 this month, followed by the sub-indices for job opportunities and economic outlook, with both gaining 0.2 points to 106.35 and 71.2 respectively this month, the data showed.

The household finance sub-index rose by 0.1 points month-on-month to 72.45 this month — marking the lowest rise among the six sectors — reflecting the stagnancy in average wages in Taiwan, according to the report.

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