Taiwan consumer confidence worsens: survey

TAIPEI - Consumers in Taiwan are less confident on the prospects of stock market investment, job opportunities, household economic conditions and consumption of durable goods in the coming six months, according to a monthly survey released by the Research Center for Taiwan Economic Development.

The Consumer Confidence Index remained in the pessimistic range in August, weakening by 1.74 points to 79.74 points from July, according to the center.

A reading between 100 and 200 points suggests optimism, while below 100 indicates pessimism.

All the six sub-indicators measuring investment in the stock market, consumer prices, purchases of durable goods, employment opportunities, domestic economic outlook and household economic conditions dropped from the July figures, remaining pessimistic in outlook.

A total of 2,779 people aged 20 or above participated in the survey between August 19 and 23, with an aim to find out how participants think the economy will perform over the next six months.