Taiwan consumer confidence rebounded three points to an index score of 76 in the first quarter, returning to the Q3 2013 level, according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy.
Global consumer confidence returned to pre-recession levels with an index of 96 in the first quarter of 2014—the highest score since Q1 2007. The global index—which recorded its lowest score of 77 in Q1 2009—represents a two-point increase from Q4 2013 and a three-point increase from a year ago (Q1 2013).
Taiwan consumer confidence is mainly driven by job prospects. More than one in five online respondents in Taiwan said they are optimistic about job prospects, up 9 percentage points since Q4 2013. However, Taiwan consumers are still concerned about their personal financial status and remain conservative when asked whether it is the right time to buy the things they want and need.
Thus, more than four-fifths (82%) of respondents think Taiwan is in an economic recession. Among them, close to half (48%) still believe Taiwan won’t be out of an economic recession in the next 12 months. Nevertheless, compared to previous quarter, these percentages are lower: the number of respondents who think Taiwan is in a recession fell 5 percentage points, and the number of respondents who believe Taiwan will remain in a recession 12 months from now fell 9 percentage points.
The economy is Taiwanese respondents’ biggest concern, cited by 41 percent of the consumers surveyed, followed by work/life balance (25%) and job security (19%). Concern toward increasing food prices (18%) grew 5 percentage points since Q4 2013.
When asked how they planned to utilise their spare cash, Taiwan online respondents said putting away savings (65%) and investing in shares of stock/mutual funds (31%) are still the first and second priorities, though the percentages slightly declined. However, the portion of respondents who plan to spend on a retirement fund (21%) and new technology products (17%) both increased from the previous quarter.
Across the world’s six biggest economies, five demonstrated consumer confidence gains. Listed by the level of the increase, overall confidence increased eight index points in France (59), six points in the U.S. (100), four points in Germany (99), three points in the U.K. (87) and one point in Japan (81). Consumer confidence remained flat in China (111). Confidence index scores in Japan and Germany are at their highest levels since 2005.
Nielsen Holdings N.V. (NYSE: NLSN) is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence and mobile measurement. Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA, and Diemen, the Netherlands. For more information, visit www.nielsen.com.