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Consumer confidence index hits lowest level since 2001

Consumer confidence index hits lowest level since 2001

Taiwan's consumer confidence index for October dropped 2.1 points to stand at 52.22 -- the lowest level since the National Central University's Research Center for Taiwan Economic Development (RCTED) began the monthly surveys at the start of 2001.
The October index, released by the center on Monday, declined slightly over the previous month's level.
All of the survey's six sub-indices, which reflect consumers' expectations of economic conditions over the next half year, dropped from the previous month's levels.
The steepest decline was in the category of "whether the next six ponths would be a good time to buy stocks," which slid 4.7 points to stand at 48.7, according to the center.
In the survey, a score of between 0-100 for a sub-index is classified as "pessimistic", while a score of 100-200 is considered "optimistic," the center said.
Each of the sub-indices for October stood at below 100, according to the survey.
The second steepest drop was in the category of "whether the next six months would be a good time to buy durable goods," dropping 3.5 points to stand at 93.15, followed by "job opportunities," down 2.7 points to 64.9.
Rounding out the list were "domestic economic conditions in the next six months, " down 0.65 points to stand at 43.6, "family economic conditions in the next six months, " sliding 0.55 points to 44.1, and "price levels in the next six months, " down 0.5 points to 18.85, according to the center.
The survey was conducted by telephone on randomly selected adults over the age of 20 between Oct. 19-22, with a total of 2,456 valid samples being collected.
It had a 95-percent confidence level and a margin of error of plus or minus 2 percentage points, according to the authors.


Updated : 2020-12-04 07:11 GMT+08:00