Taiwan’s consumer confidence hit a record high in July. That’s a sign of public optimism about the economy for the second half of this year. That’s the word from a survey released by National Central University on Monday.
The survey shows that the Consumer Confidence Index (CCI) rose 0.59 points in July from the previous month to 88.17. Four major indices all showed an upward trend: confidence in employment, the local business climate, family finances and durable goods.
The director of the university’s Research Center for Taiwan Economic Development, Wu Dachrahn, said on Monday that the rising figure shows public confidence in the economy recovery.
“When the economy takes a turn for the better, it’s not that the public does not sense it," said Wu. "But usually, manufacturers are the first to feel that [change] due to rising orders.”
The index that fell the most was confidence in the timing for investment in the stock market. A Taiwan Research Institute economist said that’s mostly because stocks owned by foreign investors are as high as 37% and Taiwan’s share prices have been hovering around the 9,500 mark.