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MNI BRIEF: Taiwan Consumer Confidence Drops For Ninth Month

MNI (BEIJING)
MNI (Beijing)

Taiwan’s Consumer Confidence Index (CCI) declined for a ninth consecutive month amid weakening economic prospects, data released by the Research Center for Taiwan Economic Development (RCTED) on Thursday showed.

October’s CCI fell 1.37 points to 61.22 in October, delivering a y/y decline of 13.04 points. Consumers' domestic price level expectation for the next six months rose 0.3 points m/m to 27.2, and confidence in the overall economic situation fell 0.45 points from last month's survey to 78.45 points.

CCI Index levels above 100 indicate positive outlooks and below 100 indicate a negative outlook. RCTED assessed the latest reading as “overall showing pessimism”, with 5 of the 6 indicators showing negative trends.

Taiwan’s total exports contracted 5.3% y/y in September as the economy continued to slow, while the GDP forecast for 2022 was lowered by 0.15% to 3.76% by authorities in August.


MNI Beijing Bureau | lewis.porylo@marketnews.com
DataPolicy NewsAPACChinaData StoriesBriefStoryRegion
MNI Beijing Bureau | lewis.porylo@marketnews.com
DataPolicy NewsAPACChinaData StoriesBriefStoryRegion

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