Sat, Dec 28, 2013 - Page 13 News List

Consumer confidence falls: report

BLEAK OUTLOOK:Although the public has more confidence in the stock market, people are more worried about every other area of economic activity

By Amy Su  /  Staff reporter

Consumer confidence weakened for the second consecutive month this month, with shoppers remaining cautious about the economic outlook, a National Central University survey showed yesterday.

This month’s consumer confidence index (CCI) stands at 78.22, down 2.1 points from a month earlier but still 7.16 points higher than the same period last year, the university’s Research Center for Taiwan Economic Development said.

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 sub-index for the economic outlook recorded the largest month-on-month decline of all the sub-indices, falling 1.85 points to 69.85 this month, its lowest level since March 2000, the report said.

However, Dachrahn Wu (吳大任), the center’s director, was upbeat about the nation’s economic outlook in the near future.

“The public was relatively optimistic about stock market performance, a leading indicator for the economy, as well as durable goods, which mainly represents sentiment in the property market. This is, an indication that economic sentiment may improve further,” Wu said by telephone.

The stock market sub-index rose 2.6 points to 71.6 this month from last month, marking its highest level since August 2011, the report’s data showed.

The report also showed the sub-index of durable goods was down 0.25 points from a month earlier to stand at 102.45 points this month, remaining above the 100-point threshold which indicates optimistic sentiment.

The job opportunities sub-index fell 0.3 points month-on-month to 102.2 this month, the report showed. And in the other two areas, the sub-indices of household finances and consumer prices decreased 0.75 points this month from last month, to stand at 72.2 and 47 respectively, the data showed.

The survey — for which 2,424 people over the age of 20 were polled — showed that the public’s uncertainties over the stock market’s future performance has eased, while concerns over the other five areas increased, the center said in its monthly report.

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