TAIPEI (Taiwan News) – The consumer confidence index (CCI) rose in June for a second consecutive month, showing optimism about the housing market, reports said Thursday (June 27).

The CCI added 0.49 points to reach 72.69 points, according to the Research Center for Taiwan Economic Development at National Central University. The data were based on interviews with 3,037 Taiwanese at least 20 years of age.

Of the six major components of the index, only the one related to the stock market fell in June, per Radio Taiwan International (RTI). The number of respondents believing that the next six months would be the right time to invest in stocks fell due to recent strong swings in the markets.

The real estate market was the most positive sector, according to the research center. During the first half of the year, both the number of transactions and the prices had gone up, showing the sector was continuing to show resilience.

Analysts predicted that a cut in U.S. interest rates during the third quarter would fuel consumption. The move might result in a boost for Taiwan’s exports and help the global economy in general, the experts said.