Taiwan’s score rose from 79.6 points to 84.7 against Hong Kong’s 84, down from 84.3. The survey also covers mainland China, which came top at 93.3, and Macau, at 85.3. Compared with the first quarter, confidence improved in mainland China but fell in Macau.
The survey polled respondents in a total of six categories—economic development, employment, product prices, living conditions, house purchasing and stock investments—to produce a composite score ranging from zero to 200. A score under 100 indicates insufficient confidence.
“The four economies displayed low consumer confidence across the board,” said Shia Ben-chang, a statistics professor from Taiwan’s Fu Jen Catholic University who worked on the survey.
“But Taiwan’s improved performance in the second quarter suggests an inflow of investment and is a good sign for the local bourse. I believe local sentiment will continue to brighten.”
According to Shia, Taiwan’s consumer confidence will rise further once the Cross-Strait Agreement on Trade in Services and the follow-up trade in goods agreement are implemented.
But the year-end elections and free trade agreements signed by other economies may bring pressure on Taiwan’s consumer confidence. As for Hong Kong’s unexpected decline, Shia said that the massive July 1 protest in the city’s central business district had a significant impact.
The quarterly survey is conducted jointly by four educational institutions—Taiwan’s Fu Jen Catholic University, City University of Hong Kong, Macau University of Science and Technology and Beijing-based Capital University of Economics and Business. (DF-SDH)
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