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Consumer confidence drops by 0.83 in September

Taiwan's consumer confidence index (CCI) declined in September on lingering concerns over the economy in the midst of various negative developments, said the National Central University (NCU), which compiles the monthly survey, yesterday.

September's CCI stood at 74.35, a decline of 0.83 from August. Among the six categories that make up the composite index, only one rose, namely likelihood to buy stocks over the next six months. A decline was registered for the other five, namely prices, family finances, the economy, employment opportunities and likelihood to purchase durable goods.

According to Wu Ta-jen, head of NCU's economic research institute, the stock category rose because of the third round of quantitative easing measures launched by the U.S. Federal Reserve, whose actions lifted stocks in Taiwan as well as the United States and Europe.

Moreover, Wu expressed the view the economy will improve in the fourth quarter, as September exports are expected to turn positive, after showing declines for several months in a row.

“In my view, the CCI is expected to rise in the fourth quarter,” he said.

Of the five categories that fell, “Taiwan's economy over the next six months” stood at 72.9 in September, a fall of 2.45 from August and the biggest margin of decline. It was followed by a decline of 2 points for “family finances over the next six months,” 1.35 for “likelihood to purchase durable goods over the next six months,” 1.3 for “prices over the next six months” and 0.9 for “employment over the next six months.”

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