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ANZ-Roy Morgan Taiwanese Consumer Confidence Holds Up in August
August 25 2015
- Finding No.
Consumer Confidence Press Release
The monthly ANZ-Roy Morgan Taiwan Consumer Confidence Index is based on 1,000 telephone interviews conducted throughout Taiwan. Men and women aged 14 and over were randomly selected during the month of August 2015.
ANZ’s Senior Economist Raymond Yeung said:
- ANZ-Roy Morgan Taiwan Consumer Confidence edged up to 99.9 (up 2.8pts) in August. The rise in headline index was primarily contributed by the sub-indices of current financial situations and long-term confidence in the Taiwanese economy.
- In terms of personal finances, 9.2% (up 1.6ppts) of respondents said their families are ‘better off’ financially than this time last year, compared with 24.7% (down 2.8ppts) that said their families are ‘worse off’ (the lowest figure ever recorded).
- 13.4% (up 0.6ppt) of respondents expect that their families will be ‘better off’ financially this time next year, compared with 17.4% (up 0.9ppt) expect that their families will be ‘worse off’ financially (the lowest figure ever recorded).
- In addition, 29.9% (down 2.6ppts) of respondents expect that Taiwan will have ‘good times’ economically over the next 12 months, while 18.5% (down 1.7ppt) of respondents expect ‘bad times’ economically.
- A third of respondents, 33.5% (up 6.8ppts), expect that Taiwan will have ‘good times’ economically during the next five years and just 13.8% (down 3.4ppts) of respondents expect that Taiwan will have ‘bad times’ economically (the lowest figure ever recorded).
- Only 9.8% (down 0.8ppt) of respondents say now is a ‘good time to buy’ major household items in Taiwan while 21.7% (down 1.4ppt) of respondents say now is a ‘bad time to buy’ major household items (the lowest figure ever recorded).
- The inflation expectations declined to 1.3% in August (down 0.4ppt).
“Although August’s figure has edged up, we are still cautious about the prospective releases. Taiwan’s stock market index has dropped sharply in the fresh round of global equity sell-off and the event happened after our survey closed. We believe that households will spend cautiously due to financial market volatility.
"More importantly, exports and industrial production have declined in recent months, clouding Taiwan’s growth prospect in the near term. As the economic condition has deteriorated very rapidly, we believe that the central bank has shifted its monetary policy stance from neutral to more accommodative, expressed through open market operation and declining overnight interbank rate.”
Click to view the latest ANZ-Roy Morgan Taiwanese Consumer Confidence Release PDF - August 2015.
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