The consumer confidence index this month rose to a two-year high, with five of the six subindices increasing, a report released yesterday by National Central University showed.
The index grew 1.08 points month-on-month to 73.22 — its fifth consecutive increase — while on an annual basis, it rose 10.75 points, the report said.
The latest index is the highest since February 2022 when the gauge printed 73.19, indicating that the public’s sentiment had returned to the level seen prior to Russia’s invasion of Ukraine, it said.
Photo: CNA
The report is based on a survey of 3,020 people aged 20 or older from across Taiwan between Feb. 18 and Wednesday last week, the university said.
Five of the six subindices used to gauge the public’s confidence over the next six months rose, signaling improved sentiment toward consumer prices, household finances, the economic climate, job opportunities and stock investments.
People’s expectations of stock investments climbed the most, increasing 3.17 points from last month to 61.85, the highest since March 2020.
The TAIEX has recently been at high levels driven by an artificial intelligence boom, the report said.
The survey showed that 27.2 percent of those polled said they would invest in stocks in the next six months, compared with 26.6 percent last month, while 65.3 percent said they would stay away from the market in the near term, down from 67.9 percent last month.
The subindex on job opportunities increased by the second largest amount, moving up 0.99 points to 70.23, followed the household finances subindex, which rose 0.89 points to 79.39, while the subindex on the economic climate grew the least among the five subindices, increasing 0.65 points to 83.59, the report said.
Buying interest in durable goods over the next six months was the only subindex to drop, declining 0.06 points month-on-month to 112.02.
Of the respondents, 44.4 percent said they intended to purchase durable goods over the next six months and 22.9 percent said they would be cautious about buying, compared with 45.2 percent and 23.9 percent respectively last month, the survey showed.
While the confidence index rose this month, five of the subindices were still below 100 points, indicating that the public is relatively pessimistic about the next six months, the report said.
Whether public sentiment has increased at a healthy rate requires further observation, as it needs not just Taiwanese gaining more confidence about stock investments, income levels and job prospects, but also more assurance about the nation’s export-reliant economy — one that is closely tied to international trade, as well as the economies of the US and China, it added.
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