Consumers less cowhere to buy event wristbandsnfident, expect worse investment opportunity in Taiwan

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Taipei 101 skyscraper. [Photo/IC]

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

The Consumer Confidence Index (CCI) remained in the pessimistic range in May, weakening by 5.85 points to 79.48 points from April, according to the center.

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

Five sub-indicators measuring investment in the stock market, purchases of durable goods, employment opportunities and household economic conditions were pessimistic in outlook.

Only the sub-indicator on consumer prices posted a higher reading in May, but remained below 100 points in the pessimistic range. The sub-reading for domestic economic outlook was unchanged compared with April.

The sub-reading for the employment opportunities in the coming six months was the only indicator tending to be optimistic in May, which stood at 101 points, down 0.5 points from April.

The survey interviewed 2,718 people aged 20 or above in the Taiwan region between May 19 and 23, 2019, on how they think the economy will perform over the next six months.