Political factors and rising oil prices have taken their toll on the nation's consumer confidence, with survey respondents showing mild pessimism about the next six months, according to a biannual report released by MasterCard International yesterday.
The nation's confidence score -- ranging between zero and 100 based on responses to questions about employment, the economy, regular income, the stock market and quality of life -- slid to 48.2 from 58.6 in the second quarter last year and 65.7 a year ago.
The latest survey was conducted between Oct. 20 and Nov. 5 to determine confidence levels in 13 Asia-Pacific markets. Except in China, where 600 respondents were interviewed, 400 samples were collected in each market.
"The ongoing disputes and lawsuits over the presidential election have increased people's uncertainty about the future, thereby causing the index to fall. But as the overall economic situation in Taiwan remains healthy and strong, we are still optimistic about domestic consumption," said Tina Chiang (
MasterCard estimated that Taiwan's economic growth will reach 5.5 percent this year, and the unemployment rate is expected to dip to 3.9 percent, although inflation and the benchmark interest rate could edge up slightly.
Taiwanese respondents expressed a less confident view on stock performances (45.1 versus 60.6 six months ago) and the domestic economy (48.9 versus 65.1 six months ago), according to the report.
Although the results of subjective responses are incomparable among different markets, the survey nevertheless showed that people in Indonesia, Vietnam and China appeared highly confident about the next six months.
Indonesia's confidence score jumped from 67.3 two quarters ago to the current 94.7, near the record high of 95.9 in the second quarter of 1997. Japan, the Philippines and South Korea were at the bottom of the list, showing a pessimistic outlook toward the near future.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
Prices of gasoline and diesel products at domestic fuel stations are this week to rise NT$0.2 and NT$0.3 per liter respectively, after international crude oil prices increased last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week snapped a two-week losing streak as the geopolitical situation between Russia and Ukraine turned increasingly tense, CPC said in a statement. News that some oil production facilities in Alberta, Canada, were shut down due to wildfires and that US-Iran nuclear talks made no progress also helped push oil prices to a significant weekly gain, Formosa said
MINERAL DIPLOMACY: The Chinese commerce ministry said it approved applications for the export of rare earths in a move that could help ease US-China trade tensions Chinese Vice Premier He Lifeng (何立峰) is today to meet a US delegation for talks in the UK, Beijing announced on Saturday amid a fragile truce in the trade dispute between the two powers. He is to visit the UK from yesterday to Friday at the invitation of the British government, the Chinese Ministry of Foreign Affairs said in a statement. He and US representatives are to cochair the first meeting of the US-China economic and trade consultation mechanism, it said. US President Donald Trump on Friday announced that a new round of trade talks with China would start in London beginning today,
RSS