Consumer confidence this month slumped to the lowest level since July last year, suggesting that the public attitude toward economic prospects is turning cautious, researchers at the National Central University said yesterday.
The confidence score hit 73.86 points this month, two points down from last month's figure, they said at a press conference. The survey was conducted among 2,016 people between Aug. 18 and Aug. 22.
"Three-quarters of the respondents were worried about consumer-price fluctuations for the next six months as international oil prices remain sky-high, while other energy price hikes are likely to take place soon," said Chu Yun-peng (
Soaring prices
To reflect the soaring fuel prices in their production costs, the state-run Taiwan Power Co (Taipower, 台電) and the Taiwan Water Supply Corp (台灣自來水) said earlier this month that they have plans to raise rates as early as next year.
The Great Taipei Gas Corp (
No inflation
While these factors have helped drive down consumer confidence, there is no immediate risk from inflation, Chu said.
"Compared with the first global energy crisis in 1973, we're still quite far away from that possibility as there is no sign of rapid economic expansion here in Taiwan now," Chu said.
Shia Ben-chang (
Respondents' sliding confidence in purchasing durable goods -- such as real estate, vehicles and large home appliances -- over the next six months might serve as a warning, but requires further observation before conclusions can be drawn, Shia said.
The monthly report gauges the public's expectations on stock performance, household finances, durable goods, job opportunities, consumer-price fluctuations and the economic outlook for the next six months.
According to the August survey, stock-market prospects dropped one point to 39.8 points, the lowest level since November 2001, with 75 percent of the respondents saying the next six months will not be a good time to buy shares.
LONG FLIGHT: The jets would be flown by US pilots, with Taiwanese copilots in the two-seat F-16D variant to help familiarize them with the aircraft, the source said The US is expected to fly 10 Lockheed Martin F-16C/D Block 70/72 jets to Taiwan over the coming months to fulfill a long-awaited order of 66 aircraft, a defense official said yesterday. Word that the first batch of the jets would be delivered soon was welcome news to Taiwan, which has become concerned about delays in the delivery of US arms amid rising military tensions with China. Speaking on condition of anonymity, the official said the initial tranche of the nation’s F-16s are rolling off assembly lines in the US and would be flown under their own power to Taiwan by way
FREEDOM OF NAVIGATION: The UK would continue to reinforce ties with Taiwan ‘in a wide range of areas’ as a part of a ‘strong unofficial relationship,’ a paper said The UK plans to conduct more freedom of navigation operations in the Taiwan Strait and the South China Sea, British Secretary of State for Foreign, Commonwealth and Development Affairs David Lammy told the British House of Commons on Tuesday. British Member of Parliament Desmond Swayne said that the Royal Navy’s HMS Spey had passed through the Taiwan Strait “in pursuit of vital international freedom of navigation in the South China Sea.” Swayne asked Lammy whether he agreed that it was “proper and lawful” to do so, and if the UK would continue to carry out similar operations. Lammy replied “yes” to both questions. The
‘OF COURSE A COUNTRY’: The president outlined that Taiwan has all the necessary features of a nation, including citizens, land, government and sovereignty President William Lai (賴清德) discussed the meaning of “nation” during a speech in New Taipei City last night, emphasizing that Taiwan is a country as he condemned China’s misinterpretation of UN Resolution 2758. The speech was the first in a series of 10 that Lai is scheduled to give across Taiwan. It is the responsibility of Taiwanese citizens to stand united to defend their national sovereignty, democracy, liberty, way of life and the future of the next generation, Lai said. This is the most important legacy the people of this era could pass on to future generations, he said. Lai went on to discuss
MISSION: The Indo-Pacific region is ‘the priority theater,’ where the task of deterrence extends across the entire region, including Taiwan, the US Pacific Fleet commander said The US Navy’s “mission of deterrence” in the Indo-Pacific theater applies to Taiwan, Pacific Fleet Commander Admiral Stephen Koehler told the South China Sea Conference on Tuesday. The conference, organized by the Center for Strategic and International Studies (CSIS), is an international platform for senior officials and experts from countries with security interests in the region. “The Pacific Fleet’s mission is to deter aggression across the Western Pacific, together with our allies and partners, and to prevail in combat if necessary, Koehler said in the event’s keynote speech. “That mission of deterrence applies regionwide — including the South China Sea and Taiwan,” he
RSS