The consumer confidence index this month rose to a two-year high, with five of the six subindices increasing, a report released yesterday by National Central University showed.
The index grew 1.08 points month-on-month to 73.22 — its fifth consecutive increase — while on an annual basis, it rose 10.75 points, the report said.
The latest index is the highest since February 2022 when the gauge printed 73.19, indicating that the public’s sentiment had returned to the level seen prior to Russia’s invasion of Ukraine, it said.
Photo: CNA
The report is based on a survey of 3,020 people aged 20 or older from across Taiwan between Feb. 18 and Wednesday last week, the university said.
Five of the six subindices used to gauge the public’s confidence over the next six months rose, signaling improved sentiment toward consumer prices, household finances, the economic climate, job opportunities and stock investments.
People’s expectations of stock investments climbed the most, increasing 3.17 points from last month to 61.85, the highest since March 2020.
The TAIEX has recently been at high levels driven by an artificial intelligence boom, the report said.
The survey showed that 27.2 percent of those polled said they would invest in stocks in the next six months, compared with 26.6 percent last month, while 65.3 percent said they would stay away from the market in the near term, down from 67.9 percent last month.
The subindex on job opportunities increased by the second largest amount, moving up 0.99 points to 70.23, followed the household finances subindex, which rose 0.89 points to 79.39, while the subindex on the economic climate grew the least among the five subindices, increasing 0.65 points to 83.59, the report said.
Buying interest in durable goods over the next six months was the only subindex to drop, declining 0.06 points month-on-month to 112.02.
Of the respondents, 44.4 percent said they intended to purchase durable goods over the next six months and 22.9 percent said they would be cautious about buying, compared with 45.2 percent and 23.9 percent respectively last month, the survey showed.
While the confidence index rose this month, five of the subindices were still below 100 points, indicating that the public is relatively pessimistic about the next six months, the report said.
Whether public sentiment has increased at a healthy rate requires further observation, as it needs not just Taiwanese gaining more confidence about stock investments, income levels and job prospects, but also more assurance about the nation’s export-reliant economy — one that is closely tied to international trade, as well as the economies of the US and China, it added.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher 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 rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
RSS