Taipei, Consumer confidence in Taiwan improved in July at a time when domestic investment and consumption showed signs of increasing, according to the results of the latest National Central University (NCU) survey released Monday.
The Consumer Confidence Index (CCI) rose 1.68 points in July from a month earlier to 81.48, found the survey, conducted by NCU's Research Center for Taiwan Economic Development.
The CCI consists of six factors that reflect public confidence in employment, family finances, consumer prices, the local economic climate, the stock market and the likelihood of purchasing durable goods over the next six months.
In particular, the economic climate index trended 0.45 points higher to 86.9 in July, the highest since May 2015, the survey showed.
Dachrahn Wu director of the research center, said Taiwan's economy is going through a phase of cold on the outside but warm on the inside.
While exports continue to be affected by the ongoing United StatesChina trade dispute, he said, rising investment by overseas businesses returning to Taiwan and a strong stock market has helped boost consumer confidence.
Also in July, the subindex on family finances rose 0.55 from a month earlier to 91.15 points, the highest ever recorded, according to the university.
Family finances and sentiment toward the stock market go hand in hand, Wu said, and the benchmark index of the Taiwan Stock Exchange remaining well above the 10,000point mark and cash dividend payout are helping bolster family finances.
Among the six subindexes, only the employment index fell 3.65 points in July to 97.6, hitting its lowest point since April 2011.
According to the university, a subindex score of 0 to 100 indicates pessimism, while a score of 100200 indicates optimism.
The survey, conducted from July 1923, collected 2,761 valid questionnaires from local consumers aged 20 and over. It had a confidence level of 95 percent and a margin of error of plus or minus 2.0 percentage points.
Source: Focus Taiwan News Channel