Consumer confidence weakens in November

11/30/2019 05:59 PM

Taipei, Nov. 30 (CNA) Consumer confidence weakened in November as faith in the local job market and the stock market fell, according to National Central University (NCU).

The Consumer Confidence Index (CCI) for November fell 0.6 points from a month earlier to 80.37, NCU said in a statement, citing its most recent survey.

The CCI reflects public confidence in six areas -- employment, family finances, consumer prices, the local economic climate, the stock market and the likelihood of purchasing durable goods -- in the coming six months.

Out of the six factors, two moved lower. The sub-indexes for employment and the stock market plunged 8.35 and 7.10, respectively, from a month earlier to 79.25 and 54.50, the survey found.

The November sub-index for Taiwan's job market was the lowest level since May 2010, when the figure stood at 75.25, the university's data showed.

As for the stock market, the sub-index dropped to its lowest level since January 2013, when the figure stood at 52.70.

The sub-indexes for the other four factors -- the likelihood of buying durable goods, consumer prices, the local economic climate and family finances -- moved higher by 3.65, 3.25, 2.65 and 2.30, respectively, from a month earlier to 109.05, 56.0, 89.95 and 93.45 in November.

In terms of the local economic climate, NCU said, male respondents appeared more upbeat than their female counterparts, with a sub-index of 90.86, compared with 88.91 in November.

A sub-index score of 0 to 100 indicates pessimism, while a score of 100-200 indicates optimism.

In other words, the university said, survey respondents in November were only optimistic about purchases of durable goods among the six factors over the next six months.

The sub-index for purchases of durable goods was at its highest level since July 2014, when it was 109.30, the data showed.

The survey, conducted from Nov. 19 to 23, collected 2,812 valid questionnaires from local consumers aged 20 and over. It had a confidence level of 95 percent and a margin of error of plus or minus 2.0 percentage points.

(By Wu Po-wei and Frances Huang)


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