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Taiwan consumer confidence lowest in Greater China

Taiwan's consumer confidence is the lowest in the Greater China region, according to a survey released yesterday.

The survey was conducted jointly by Taiwan's Fu Jen University, City University of Hong Kong, Central University of Finance and Economics and Capital University of Economics and Business in China, as well as Macau University of Science and Technology.

According to the poll, Taiwan's consumer confidence index for the third quarter was 71.8, a decline of 0.2 from the second quarter. The figure was lower than China's 94.8, Hong Kong's 84.9 and Macau's 77.9.

The figure for Macau was the same as last quarter, while Hong Kong and China's figures rose 0.4 and 7.6, respectively, on a quarter-on-quarter basis.

Of the eight categories included in Taiwan's survey, all fell in the third quarter compared to the second. Among them, "price" fell 3.5 to 46.4, indicating Taiwan consumers' concerns over inflation, which was triggered by a rise in electricity and gasoline prices earlier this year.

As for the other seven categories, "timing to purchase durable goods" had the highest score of 88.8, followed by 85.8 for "timing to purchase real estate," 84 for "timing to invest in stocks," 79.4 for "employment," 71.5 for both "family savings" and "household finances," and 60.5 for "Taiwan's economy."

For China, five out of six categories rose on a quarter-on-quarter basis, namely "economic development," "everyday living," "employment," "investment," and "home purchases."

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