Happiness index falls on housing costs
By Wang Weini |
00:17 UTC+8 January 21, 2010
|
Print Edition
Print Edition
RESIDENTS on Chinese mainland were more willing to spend money in the fourth quarter of last year in anticipation of a positive economic outlook, but surging housing prices cooled their enthusiasm to buy homes, said a quarterly survey released yesterday.
The consumer expectation index gained 5.4 points from the third quarter to 108 points in the fourth, the current economic condition index added 6.5 points to 89 points and the consumer sentiment index rose 2 points to 99 points, the Antai College of Economics & Management under Shanghai Jiao Tong University said in the survey.
''The rising indices indicated that consumers are optimistic the financial crisis was ending and they are confident in the economic trend,'' said Wang Fanghua, director of the college.
However, the index measuring residents' happiness fell 15 points to 124 in the final three months largely because of housing prices and concern over jobs.
Respondents aged between 18 and 24 felt less happy than others as many of them have just graduated from schools and were looking for jobs, the survey, covering 2,000 respondents, said.
The index measuring residents' willingness to buy homes fell 34.5 points to 57.22 due to rocketing prices.
China's urban housing prices in 70 major cities rose 7.8 percent in December, the most in 18 months and the seventh consecutive gain since June amid a supply shortage and growing speculation.
The consumer expectation index gained 5.4 points from the third quarter to 108 points in the fourth, the current economic condition index added 6.5 points to 89 points and the consumer sentiment index rose 2 points to 99 points, the Antai College of Economics & Management under Shanghai Jiao Tong University said in the survey.
''The rising indices indicated that consumers are optimistic the financial crisis was ending and they are confident in the economic trend,'' said Wang Fanghua, director of the college.
However, the index measuring residents' happiness fell 15 points to 124 in the final three months largely because of housing prices and concern over jobs.
Respondents aged between 18 and 24 felt less happy than others as many of them have just graduated from schools and were looking for jobs, the survey, covering 2,000 respondents, said.
The index measuring residents' willingness to buy homes fell 34.5 points to 57.22 due to rocketing prices.
China's urban housing prices in 70 major cities rose 7.8 percent in December, the most in 18 months and the seventh consecutive gain since June amid a supply shortage and growing speculation.
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