Consumer confidence 2nd highest in Greater China
Taiwan’s Consumer Confidence Index (CCI) in the first quarter of the year was the second-highest among the four areas in the Greater China region that also include mainland China, Macau and Hong Kong, according to a joint university study on consumer confidence in the region.
It was the best ranking Taiwan has had since 2008 in the regional CCI surveys.
Taiwan’s CCI climbed 1.41 points from the previous quarter’s 86.2 to 87.61 in Q1, lower than the mainland’s 104.3, but higher than Macau’s 85.41 points and Hong Kong’s 83.8, according to the results of the quarterly study, released Wednesday in Beijing.
The Taiwan index consists of eight indicators that reflect consumer confidence in the fields of stock investment, real estate procurement, durable goods procurement, employment, household savings, domestic economic conditions, economic growth and commodity prices.
The highest score was recorded at 120.14 points for stock invest- ment, followed by 104.79 for real estate procurement, 100.62 for durable goods procurement, 96.43 for employment, 81.37 for household savings, 80.48 for domestic economic conditions, 74.29 for economic growth and 53.7 points for commodity prices.
The low score in commodity prices reflects Taiwanese people’s discontent over rising prices and stagnant wage growth, said Shia Ben-chang, a professor in health care administration at Taipei Medical University, who presided over the Taiwan portion of the survey.
The CCI study is made up of separate surveys conducted by the Central University of Finance and Economics and the Capital University of Economic and Business in Beijing, Taiwan’s Taipei Medical University, the City University of Hong and the Macau University of Science and Technology.
Under a 0-200 point scoring scale, an index falling in the 0-100 point zone means consumer confidence is inclined toward pessimism, while a figure 100-200 zone indicates optimism.