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Consumer confidence in Taiwan down for eighth straight month

Consumer confidence in Taiwan down for eighth straight month

Taiwan's consumer confidence continues to drop, falling in December for the eighth month in a row, according to a survey released Monday.

A monthly survey by National Central University indicated that the consumer confidence index dropped 2.59 points from November to 81.61 in December, according to a report by the university's Research Center for Taiwan Economic Development said.

The index has been falling since May due to lackluster growth of the domestic economy.

The index comprises six indicators that reflect what people think about the economy over the following six months, their projections of consumer prices, stock market investment, employment, family income, the local economic climate and purchase of durable goods.

The indicators for employment and consumer prices increased this month but the other four indicators dropped, the report said.

A score of between 0 and 100 indicates pessimism, while a score of 100 to 200 indicates optimism.

According to the scores for December, consumers are optimistic about employment over the next six months but are pessimistic about the five other indicators. (By Chen Cheng-wei and Evelyn Kao)

Updated : 2021-09-27 19:32 GMT+08:00