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Consumer confidence remains pessimistic in Taiwan: survey

Taipei, Aug. 27 (CNA) Taiwan's consumer confidence index (CCI) in August dropped by 3.18 points to 53 points, remaining below 100 points, which indicates that consumers' mood has become "more pessimistic," according to results of a survey revealed Thursday.
The index's six sub indices, which reflex consumers' expectations of six economic conditions in the coming six months all dwindled in August compared to July levels because of the impact of Typhoon Morakot, according to the press release issued by the Research Center for Taiwan Economic Development (RCTED) under National Central University, which carried out the survey on a monthly basis.
The six economic conditions are: 1. product price level; 2.
family economic conditions; 3. employment opportunities; 4. business climate; 5. whether it is a good or bad time to buy stocks; and 6.
whether it is a good or bad time to buy durable goods.
The six sub indices all scored a point below 100 points, indicating that the overall economic mood of the consumers is "relatively pessimistic." Scores in the range between 100-200 reflects a "more pessimistic" mood among consumers.
Taiwan's CCI surged to a one-year high of 56.18 points in July -- the same level as in July the previous year, the RCTED noted.
The No. 1 sub indice concerning consumer product prices posted the largest monthly decrease of 13.55 points to 29.95 points in August -- which is a record low in this category and is the lowest point among the six sub indices, the survey showed.
The research center ascribed the fall to the adverse effects of Typhoon Morakot, which lashed southern Taiwan early this month and which have sent the price of vegetables, fruits and meat soaring in Taiwan's retail markets.
The No. 5 sub indice regarding whether it is a good or bad time to buy stocks in the coming six months saw the second-largest fall of 3.2 points to 78.8 points for August.
The No. 6 sub indice about whether it is a good time to buy durable goods also dropped by 1.3 points to 81.2 points for this month, according to the survey.
The No. 3 sub indice concerning the job market stood at a historical low of 32.4 points, down by 0.7 points from July -- indicating that Taiwan's people are highly concerned about employment opportunities in the coming six months.
The score for the prospects of family economic conditions and business climate declined to 51.85 points and 43.8 points, representing a fall of 0.3 points and 0.05 points, respectively, the survey found.
The research center conducted the telephone survey from Aug. 19- 22, questioning 2,308 citizens who are over 20 years old. It had a margin of error of 2 percentage points.
(By Flor Wang)

Updated : 2021-07-30 16:53 GMT+08:00