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Business index drops for two quarters
Source: Xinhua |
January 10, 2009, Saturday
|
Print Edition
Print Edition
CHINA'S business climate index fell for a second consecutive quarter during the final three months of last year as economic conditions deteriorated sharply, the National Bureau of Statistics said yesterday.
The index was 107, versus 128.6 in the third quarter. The index was 137.4 in the second quarter and 136.2 in the first quarter, according to the bureau.
The index ranges from zero to 200. A reading above 100 shows economic expansion, while a reading below 100 indicates contraction. The survey began in 1998.
The index for industry was 98.5, down 27.3 points quarter on quarter. The indices for wholesalers and retailers and property developers slid by 16.4 points and 17.2 points to 127.2 and 101.7, respectively.
The index for domestic publicly traded firms fell 39.4 points to 106.2, and the entrepreneurial confidence index sank 29.2 points to 94.6.
Economist Cheng Siwei told a conference on Thursday that the Chinese economy grew about 8 percent during the fourth quarter of last year, down from 9 percent in the third quarter and 10.4 percent in the first half.
Recovery will come in the second half of 2009, Cheng said.
The index was 107, versus 128.6 in the third quarter. The index was 137.4 in the second quarter and 136.2 in the first quarter, according to the bureau.
The index ranges from zero to 200. A reading above 100 shows economic expansion, while a reading below 100 indicates contraction. The survey began in 1998.
The index for industry was 98.5, down 27.3 points quarter on quarter. The indices for wholesalers and retailers and property developers slid by 16.4 points and 17.2 points to 127.2 and 101.7, respectively.
The index for domestic publicly traded firms fell 39.4 points to 106.2, and the entrepreneurial confidence index sank 29.2 points to 94.6.
Economist Cheng Siwei told a conference on Thursday that the Chinese economy grew about 8 percent during the fourth quarter of last year, down from 9 percent in the third quarter and 10.4 percent in the first half.
Recovery will come in the second half of 2009, Cheng said.
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