Consumer confidence in Taiwan has risen for the second month in a row after hitting a decade low last December. That’s according to a survey published on Wednesday by National Central University.
The university uses survey data to create a monthly consumer confidence index. The index rose by over 1% in February, following a smaller rise in January.
But the February value of 62 still represents a generally pessimistic attitude, according to the university’s own scale, where scores below 100 suggest overall pessimism.
The study also shows Taiwan’s public continues to worry about inflation. Researcher Dachrahn Wu (吳大任) says around half of the population is expecting a big increase in consumer prices over the next six months.
Other results showed more robust growth in confidence, like confidence in making durable goods purchases over the next six months, which grew by 4%. But that figure could also demonstrate fears of continued inflation.
Wu adds that inflation and economic slowdowns in foreign countries will continue to impact Taiwanese exports and may result in furloughs and layoffs. Those in turn may further erode consumer confidence.