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Chinese confidence rises on recovery in economy
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Chinese consumer confidence rose in the third quarter from a year ago after the country’s macro-economic situation recovered, according to Nielsen’s latest survey.
Their confidence added 4 points to 110 points in the three months ended on September 30, Nielsen said in the China Consumer Confidence Report released yesterday.
Consumers’ purchase intention rose 2 percentage points to 43 percent, the highest since the second quarter in 2010, according to the survey of 3,500 urban residents and rural area consumers.
Their perception about personal finance and job prospects also was stable during the quarter.
“This has laid a good foundation for China to transform its economic growth pattern to rely less on investment, and more consumption-driven,” Patrick Dodd, managing director of Nielsen China, said in a statement.
It was mainly consumers in the lower-tier cities and rural regions who were more willing to spend amid the government’s efforts to increase household income, the survey said.
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