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Taiwan's city consumption power predicted to grow slower in 2013

Taiwan's city consumption power predicted to grow slower in 2013

Taipei, Jan. 21 (CNA) Taiwan's 2013 city consumption power (CCP)is expected to pose a slight drop in terms of year-on-year growth, but the total volume is forecast to increase by around NT$76 billion (US$2.6 billion) to NT$5.6 trillion, according to the results of a study released Monday. The CCP growth rate is predicted to decline to 1.36 percent this year from 1.38 percent last year, according to a report on Taiwan's 2013 CCP indices jointly produced by Fu Jen Catholic University's College of Management and its Department of Statistics and Information Science. Although there has been a moderate drop in terms of the growth rate for the year, "such a decrease does not mean that the consumption volume slid too," said Chen Min-chi, an associate professor of the College of Management, who explained that an annual growth rate's fluctuation is made by comparing with the growth rate of the previous year. In 2011, the CCP growth rate of the country reached 3.15 percent, Chen said, citing data compiled from the annual study. The report also indicated that research models found a big urban-rural gap in terms of consumption power because of a variety of factors, including that households in cities enjoy higher disposable incomes than those in rural areas and that commodity prices in cities are commonly higher. The study showed that Taipei topped the country's cities and counties with the highest assessed per capita city consumption power (PCP) index of NT$392,434 per person in 2013, followed by Hsinchu City's NT$327,815 and Hsinchu County's NT$274,976. Taipei's PCP index was also the highest among the five special municipalities, ahead of New Taipei, Kaohsiung, Taichung and Tainan, in that order. The CCP is a composite indicator used to evaluate the general consumption power of cities. It is calculated by multiplying the PCP index and the population of the targeted city. According to Chen, the PCP is quantified with figures in terms of city population, total retail amount of consumption products, per capita disposable income, consumption expenditure and non-consumption expenditure. (By Lin Hui-chun and Elizabeth Hsu)


Updated : 2021-06-24 17:27 GMT+08:00