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Confidence declines among Shanghai consumers, survey finds
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CONFIDENCE among Shanghai consumers dropped in the second quarter as they held a grimmer economic outlook and were less willing to spend, according to a survey released today.
The Consumer Sentiment Index in Shanghai fell to 107.1 in the second quarter, down 5.6 points from the previous quarter but 3.9 points higher than the same period last year, according to a survey by Shanghai University of Finance and Economics.
A reading above 100 means optimism.
Sub indices measuring people's intention to purchase homes, cars, and durable home appliances all fell in the April-June period compared to the first quarter.
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