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Chinese consumer confidence continued to strengthen in the second quarter, reflecting widely-shared optimism for economic development. That's from the Chinese Consumer Confidence Report, jointly released by the National Bureau of Statistics and the Nielsen company.
In the second quarter, the Consumer Price Index rose 1 point from the first quarter to 109. This fifth consecutive increase has lifted the index to a pre-economic downturn level. The report attributed the rebound to increasing confidence from consumers in urban and rural areas. But rural consumers recorded an increase in optimism towards their employment and income while that declined in urban areas.
The survey of 3 thousand 500 shoppers across the country also found inflation prospects weakened slightly in the second quarter, and expectations for a sharp drop in housing prices remains slim.