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Confidence Slides
By Maggie Zhang |
December 16, 2010, Thursday
|
Print Edition
Print Edition
CONFIDENCE among Chinese entrepreneurs dropped in the fourth quarter due to rising raw material costs and a decrease in export orders, a central bank survey showed yesterday.
The Entrepreneur Confidence Index fell to 74.2 percent this quarter, a 5.2 percentage-point drop from the previous three months, the People's Bank of China said yesterday.
The Raw Material Price Index rose 9.7 percentage points to 79.4 percent, while the prices expectation index jumped 8.1 percent to 75.8 percent, according to the survey of 5,000 entrepreneurs.
The Producer Price Index, a measure of factory gate prices, rose 6.1 percent year on year in November compared to 5 percent in October.
The component index for input costs climbed from 69.9 percent in October to 73.5 percent last month, its highest since July 2008, the China Federation of Logistics and Purchasing said in a survey earlier this month.
But entrepreneurs remain "cautiously optimistic" of future growth as domestic orders rise while exports slide, the central bank said.
The Entrepreneur Confidence Index fell to 74.2 percent this quarter, a 5.2 percentage-point drop from the previous three months, the People's Bank of China said yesterday.
The Raw Material Price Index rose 9.7 percentage points to 79.4 percent, while the prices expectation index jumped 8.1 percent to 75.8 percent, according to the survey of 5,000 entrepreneurs.
The Producer Price Index, a measure of factory gate prices, rose 6.1 percent year on year in November compared to 5 percent in October.
The component index for input costs climbed from 69.9 percent in October to 73.5 percent last month, its highest since July 2008, the China Federation of Logistics and Purchasing said in a survey earlier this month.
But entrepreneurs remain "cautiously optimistic" of future growth as domestic orders rise while exports slide, the central bank said.
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