Consumer confidence sees first growth in four months
By Linger Liu, The China PostTAIPEI, Taiwan -- The consumer confidence index (CCI) in January increased to 72.82 points showing the first growth in four months, according to a National Central University survey released yesterday.
January 30, 2013, 11:53 am TWN
The index rose 1.76 points from December last year, ending four straight months of declines, as stable growth is expected in the stock market, while confidence in the domestic market also increased.
The director of the National Central University's Research Center for Taiwan Economic Development, Dachrahn Wu (吳大任), said the CCI remained in decline for most of 2012, and this January was the first time the index has rebounded. He said the growth was mainly driven by the improved potential of the stock market.
Index Spurs Optimism
The stock market subindex led the increase this month, rising 6.5 points to 52.7, according to the survey.
The second highest growth was the household finances subindex of 1.45 points to 73.6. The third highest growth was the economic outlook for the future six-month business cycle. It was 73.85 in January, rising 1.35 points.
The subindex for job opportunities increased 0.65 points to 105.25, while the index for consumer prices stood at 46.45, increasing 0.4 points. The durable goods subindex grew 0.2 points to 85.05, posting a slight increase from the previous month.
Experts Remain Optimistic
Shia Ben-chang (謝邦昌), a professor in the Department of Statistics and Information Science at Fu Jen Catholic University, said that compared to the mainland, Taiwan has the relative advantage of stable and affordable commodity prices. He said therefore Taiwan's stock and real estate markets are all very attractive to global investors.
Day Jaw-yang (戴肇洋), a division director at the Taiwan Research Institute (台灣綜合研究院), said it is better to remain cautious in terms of future growth. He said that due to the government's inappropriate stock market policy direction, energy was low in Taiwan's stock market last year. Even though the Financial Supervisory Commission is working on a new investment partnership with mainland China, he said it will take time to know for certain whether the economy is truly on the rebound.