Alexa
  • Directory of Taiwan

Taiwan consumer confidence hits new high

Taiwan consumer confidence hits new high

Taipei, April 27 (CNA) Taiwan's consumer confidence index (CCI) rose to its highest level ever in April as the country's economic climate continued to show signs of improvement. National Central University Research Center for Taiwan Economic Development, which conducts the monthly consumer confidence survey, said the CCI rose 1.80 points from a month earlier to 92.93, the highest the index has ever been since the university started the survey in January 2004. All the six sub-indexes in the CCI, which reflect how consumers feel about aspects of Taiwan's economy over the coming six months, trended higher in April, the survey found. The center said the stock investment sub-index showed the highest month-on-month gain of 4.90 points from a month earlier, improving to 109.70, followed by a 1.75-point gain in the consumer prices sub-index to 52.85. The sub-index for family finances rose 1.65 points from a month earlier to 85.60 in April, while that for durable goods purchases gained 1.00 points to 106.05, that for the business climate added 0.8 points to 88.45, and that for the job market grew 0.65 points to 114.9. Under a 0-200 point scoring scale, an index falling in the 0-100 point zone means consumer confidence is inclined toward pessimism, while a figure in the 100-200 zone indicates optimism. The new high in the CCI reflects strong domestic demand and consumers' confidence in future economic development, said Shia Ben-chang (???), a professor in health care administration at Taipei Medical University who is in charge of the establishment of a planned data research center and management school at the university. The confidence was manifested in trading on the Taiwan Stock Exchange, whose benchmark weighted index surmounted the 10,000-point mark Monday for the first time in 15 years, Shia said. The scholar said he expects continuous economic growth in the next three to six months, but he also warned of the public concern over stagnant wages, judging from the fact that the CCI's sub-indexes for family finances, business climate and consumer prices all fell in the 0-100 point zone. The figures indicate that enterprises have to share the fruits of economic growth with their employees through raising wages, Shia said. (By Chen Cheng-wei and Elizabeth Hsu)


Updated : 2021-09-22 22:34 GMT+08:00