Taiwan's consumer confidence index (CCI) in December fell to its lowest level in three years, National Central University (NCU) said on Tuesday.
The CCI for December was 77.22, down 0.49 points from a month earlier and the lowest level since October 2013, according to a survey by the university's Center for Taiwan Economic Development, which asked Taiwanese consumers about their spending plans and economic outlook for the next six months.
The index consists of six indicators that reflect confidence in consumer prices, the job market, family finances, overall economic climate, the stock market and possible purchase of durable goods over the next six months.
In December, four out of the six sub-indexes fell, with the sub-index for confidence in consumer prices seeing the biggest decline, dropping 2.75 points to 48.80.
The second-biggest drop was recorded in the sub-index measuring confidence in the job market, which fell 1.9 points to 105.80.
The sub-index on the timing of durable goods purchases was down 0.7 points to 87.95, while that for family finances dipped 0.25 points to 78.55.
The sub-index for stock market investments rose 2.4 points to 69.30 and the sub-index measuring confidence in the local economy was up 0.25 points to 72.90.
According to NCU, a score of between 0 and 100 indicates pessimism, while a score of between 100 and 200 shows optimism, meaning that the only area in which respondents displayed confidence looking at the next six months was the labor market.
The survey, conducted from Dec. 19 to 21, received valid responses from 2,415 adults and had a margin of error of plus or minus 2.0 percentage points.
Source: Focus Taiwan News Channel