Mon, 03 Oct 2022

Taiwan's consumer confidence weakens to new low

29 Jun 2022, 18:18 GMT+10

TAIPEI, June 29 (Xinhua) -- The Consumer Confidence Index (CCI) of Taiwan has declined for five consecutive months and plunged to 64.14 points in June, hitting a new low over the past 12 years or so, according to the latest survey released by the Research Center for Taiwan Economic Development.

The index dropped by 3.67 points from May, while all the six sub-indexes have kept falling for two months. Considering this, the center warned against the risk of an economic reversal.

The CCI consists of six sub-indexes measuring consumers' anticipation for six facets of the economy in the coming six months, including investment in the stock market, consumer prices, and domestic economic outlook. A reading between 100 and 200 points suggests optimism, while one below 100 indicates pessimism.

The report reveals that the sub-index for investment in the stock market reduced most by 7.4 points from May to a record low of 25.5 points since 2001. It was followed by the sub-index for economic outlook dropping by 4.9 points to 80.95 points, a new low over the past two years.

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