Local consumer confidence in Q3 lowest in Greater China
CNABEIJING--Consumer confidence in Taiwan remained the lowest in the Greater China region during the third quarter, a survey published in Beijing showed Tuesday.
October 9, 2013, 12:07 am TWN
Taiwan scored 77.4 out of 200 in terms of consumer confidence, while the score for mainland China was 91.5, for Macau 86.2 and Hong Kong 82.3, according to the quarterly survey published by five universities in the region, including Taiwan's Fu Jen Catholic University.
The other four universities are City University of Hong Kong, Macau University of Science and Technology, Central University of Finance and Economics, and Capital University of Economics and Business, the last two of which are based in Beijing.
Taiwan's score increased by 1.4 points from the second quarter but remained the lowest so far this year in the Greater China region.
A score of over 100 indicates positive consumer confidence, while under 100 reflects negative levels, according to the universities. Among the six sub-indices, confidence in investing in the stock market was Taiwan's top indicator with a score of 101.5, while confidence in consumer prices was the lowest (49.3).
Shia Ben-chang, a professor at Fu Jen Catholic University, said that although Taiwan recorded the lowest inflation in the region, its declining real income has created pessimistic domestic sentiment about consumer prices.
Meanwhile, he attributed the high confidence in stock investments to the rise of share prices and the index in Taiwan because of the increasing capital put into the local market by foreign investors.
Taiwan consumer confidence levels in the other four sub-indices — real estate purchases, employment, living conditions and economic development — were between 62.7 and 97.1, the survey showed.