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ANZ-Roy Morgan Taiwanese Consumer Confidence Falls in September
September 22 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 September 2015.
ANZ’s Senior Economist Raymond Yeung said:
- ANZ-Roy Morgan Taiwan Consumer Confidence plummeted to 91.4 (down 8.5pts from August) in September, much lower than 97.7 in September 2014. The large fall in consumer confidence in September was driven by decreasing confidence in all components, primarily in Taiwan’s economic performance over the next five years.
- In terms of personal finances now 6.8% (down 2.4ppts) of respondents in September said their families are ‘better off’ financially than this time last year, compared with 29.5% (up 4.8ppts) that said their families are ‘worse off’.
- Now 11.6% (down 1.8ppts) of respondents expect their families will be ‘better off’ financially this time next year, compared with a fifth, 19.7% (up 2.3ppts), that expect their families will be ‘worse off’ financially.
- In addition, 26.9% (down 3ppts) of respondents expect Taiwan will have ‘good times’ economically over the next 12 months (the lowest level since May 2014), while 23.3% (up 4.8ppts) of respondents expect ‘bad times’ economically.
- Now under a quarter of respondents, 22.2% (down 11.3ppts), expect Taiwan will have ‘good times’ economically during the next five years (a record low) and 19.5% (up 5.7ppts) of respondents expect Taiwan will have ‘bad times’ financially.
- In addition, 6.7% (down 3.1ppts) of respondents say it is a ‘good time to buy’ major household items in Taiwan (the lowest level since August 2014), while a quarter, 25.2% (up 3.5ppts), of respondents say now is a ‘bad time to buy’ major household items.
- The inflation expectations rose to 1.9% (up 0.6ppts) in September.
“As we pointed out last month, consumer sentiment will be badly affected by global equity sell-off and the volatility of foreign currencies, notably the RMB. The September’s consumer confidence figure clearly evidences the impact of falling asset prices on household confidence.
"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. The central bank will continue to ease through open market operation. However, there is no need for the CBC to cut rediscount rate this Thursday, as market interest rates have been very low.”
Click to view the latest ANZ-Roy Morgan Taiwanese Consumer Confidence Release PDF - September 2015.
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The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.
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