Consumer confidence in Taiwan increased slightly in November, growing by 0.43 points to 83.41. A value between 0 and 100 indicates pessimism, while a value between 100 and 200 indicates optimism.
National Central University’s Research Center for Taiwan Economic Development released the latest consumer confidence index (CCI) figures on Thursday. The CCI survey measures consumers’ expectations for the economic situation in the coming six months. Of the six indices covered in the survey, investment in stocks saw the biggest increase, while willingness to buy durable goods recorded the biggest decline.
However, overall the six indices did not change much. Shia Ben-chang, a professor of business administration at Fu Jen Catholic University, said many people are taking a "wait-and-see" attitude ahead of municipal elections on November 29. He also said consumer confidence may increase after the elections.
"From December to the end of the year we will still have the [Christmas] holidays. Based on seasonal factors and past experience, it is possible that [CCI figures] will rise in December, as long as non-economic factors do not affect the economy," said Shia.