Taipei, Consumer confidence in Taiwan improved slightly in September as the domestic and global economies continued to show steady growth, according to National Central University (NCU).
In a survey released on Sept. 27, NCU said in the day that Taiwan's consumer confidence index (CCI) for September rose 0.91 points from a month earlier to 83.47, marking the second consecutive monthly increase.
Dachrahn Wu (???), director of NCU's Research Center for Taiwan Economic Development, told the press that the outlook for Taiwan has been positive, in part because the United States, the world's largest economy and one of Taiwan's biggest export markets, has been seeing steady economic growth.
According to the NCU survey, the CCI comprises six factors that reflect public confidence in employment, family finances, consumer prices, local economic climate, the stock market and the likely purchase of durable goods over the next six months.
In September, five of the sub-indexes rose, while the one for the stock market fell 3.20 points from a month earlier to 90.50, the survey showed.
The drop in stock market confidence was due to the trade frictions between the U.S. and China, which have also caused uncertainty in the global stock market, according to Wu.
Meanwhile, the sub-index for consumer prices rose 2.65 points in September from a month earlier to 47.05, the largest increase among the six factors, while the economic climate index increased 2.00 points to 82.70, the survey showed.
The sub-index for family finances climbed 1.50 points from a month earlier to 87.40, while the sub-indexes for the likely purchase of durable goods and employment rose 1.40 and 1.10, respectively, to 91.15 and 102.00, according to the survey.
A sub-index score of 0 to 100 indicates pessimism, while a score of between 100 and 200 indicates optimism.
In mid-August, the Directorate General of Budget, Accounting and Statistics raised its forecast for Taiwan's 2018 gross domestic product from 2.60 percent to 2.69 percent, citing a better-than-expected performance in the first half of the year on the back of solid global demand.
The NCU survey, conducted Sept. 19-23, collected 2,729 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