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China's consumer confidence rises in Q1

04-22-2011 08:43 BJT

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China's consumer confidence index rose in the first three months of this year after two consecutive quarterly declines last year. This is according to a report released by the China Economic Monitoring and Analysis Center, or EMAC on Thursday.

The index stood at 108 for the first quarter, up eight points from the previous quarter. The report attributes the rise in consumer confidence to stable and fast economic growth. It indicates seventy-three percent of consumers in the first quarter believed employment would be "good" or "very good" in the coming year, while seventy-one percent of consumers expected individual incomes to be optimistic in 2011.

Rural consumers in the first quarter were more optimistic than urban consumers in their expectations for employment and individual incomes. Consumers were more willing to spend as the government's efforts to cool down prices began to take effect. However, their willingness to spend was still at a relatively low level. Seventy-three percent of consumers surveyed during the first quarter believed that home prices would rise in the coming year, up six percentage points from the previous quarter.

 

Editor:Zheng Limin |Source: CNTV .CN

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