Chinese firms wrestle to regain confidence in Q1 amid slowdown
Source: Xinhua |
April 16, 2013, Tuesday
|
Print Edition
Print Edition
CHINESE companies were struggling to recover their confidence in the first quarter of this year amid a slowdown in economic growth, according to an index released by the National Bureau of Statistics yesterday.
China's business climate index, a major gauge of the country's macro-economic outlook, rose to 125.6 points between January and March, up from 124.4 points in the fourth quarter of 2012.
The first-quarter reading marked a recovery for two straight quarters after the index fell in the second and third quarters last year.
Compared with the same period of last year, the first-quarter index shed 1.7 points, while the entrepreneurial confidence index, which stood at 122.4 points, was 3.2 points lower than the business climate index, indicating Chinese entrepreneurs were recovering mildly, said the bureau.
The sub-index which reflects companies' anticipation of current operations fell 5.1 points from the fourth quarter to 119 points in the first quarter, while the sub-index for enterprises' future operations rebounded 5.3 points to 129.9 points.
The index ranges from zero to 200. A reading of 100 demarcates growth from contraction.
The index surveys around 21,000 industrial enterprises.
By breakdown, the software and IT sector posted the most optimistic business climate score of 140.6 points, though it was down 3.8 points from the fourth quarter.
The oil processing sector was the only one with a negative business climate rating below 100 points.
Industrial firms in China's central areas saw stronger momentum in the first quarter, with a sub-index of 127.6 points, against 125.5 points for the eastern regions and 122.6 points in western regions.
China's business climate index, a major gauge of the country's macro-economic outlook, rose to 125.6 points between January and March, up from 124.4 points in the fourth quarter of 2012.
The first-quarter reading marked a recovery for two straight quarters after the index fell in the second and third quarters last year.
Compared with the same period of last year, the first-quarter index shed 1.7 points, while the entrepreneurial confidence index, which stood at 122.4 points, was 3.2 points lower than the business climate index, indicating Chinese entrepreneurs were recovering mildly, said the bureau.
The sub-index which reflects companies' anticipation of current operations fell 5.1 points from the fourth quarter to 119 points in the first quarter, while the sub-index for enterprises' future operations rebounded 5.3 points to 129.9 points.
The index ranges from zero to 200. A reading of 100 demarcates growth from contraction.
The index surveys around 21,000 industrial enterprises.
By breakdown, the software and IT sector posted the most optimistic business climate score of 140.6 points, though it was down 3.8 points from the fourth quarter.
The oil processing sector was the only one with a negative business climate rating below 100 points.
Industrial firms in China's central areas saw stronger momentum in the first quarter, with a sub-index of 127.6 points, against 125.5 points for the eastern regions and 122.6 points in western regions.
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