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Consumer confidence in Taiwan hits 17-month high in October

Consumer confidence in Taiwan hits 17-month high in October

Taiwan's consumer confidence in October rose to its highest level in 17 months, another indication that the country's economy may be pulling out of a prolonged slump set off by the global economic meltdown.
The consumer confidence index for October stood at 60.56, up 4.11 points from the September level and the highest since June 2008, according to the results of the monthly survey released yesterday by National Central University's Research Center for Taiwan's Economic Development (RCTED).
In October, all six sub-indices of the index rose, with the largest increase seen in the sub-index for domestic economic outlook over the next six months, which rose 9.5 points to 53.55.
Judging from the numbers, however, the center said consumers were still pessimistic about Taiwan's overall economic prospects, given that all six CCI sub-indices were below 100.
Consumers are said to be optimistic only when the index or sub-indices range between 100 and 200.
The sub-index posting the second largest increase in October was for projected employment opportunities for the next six months, which rose 6.3 points from September to 38.9, marking the greatest monthly surge in five years.


Updated : 2021-02-27 00:07 GMT+08:00