Consumer confidence index continues to rise

The latest consumer confidence index (CCI), compiled by the Research Center for Taiwan Economic Development at National Central University, increased 2.42 points to 75.24 in February from 72.82 in January.

It was the most confident consumers have been since June 2012, when the index was 76.36, but still far below the index's historical high of 86.89 hit in August 2011.

“The index is likely to continue its upward trend this year, unlike in 2012,” when the reading hit a high in March and then started to decline, said Dachrahn Wu, the center's director.

Consumers, he said, are still generally pessimistic, however, because the index's reading remains below 100.

Based on the survey's methodology, scores over 100 indicate optimism while those under 100 signal pessimism.

Among the six CCI sub-indexes, confidence in domestic consumer prices was the only indicator that went down in February, falling 0.4 points to 46.05.

Confidence in the other five categories — stock market investments, the job market, durable goods purchases, household finances and the local economy — was higher in February than in the previous month.

The stock market sub-index posted the biggest increase in February, rising 7.3 points from January to 60.

Confidence in durable goods purchases gained 2.8 points to 87.85, the economic outlook sub-index rose 2.3 points to 76.15, and the household finances sub-index was up 1.6 points to 75.2.

The job market sub-index, the only indicator over 100, was up 0.95 points to 106.2, according to the report.

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