Consumer morale drops to 9-month low
By Wang Yanlin |
July 9, 2013, Tuesday
|
Print Edition
Print Edition
CONSUMER confidence in Shanghai dropped to a nine-month low during the second quarter of this year due to a weaker domestic economy, fewer job opportunities and a sharp decline in the stock market, according to a survey yesterday.
The Index of Consumer Confidence shed 1.8 points from a year earlier to 103.2 in the three months ending in June, a study conducted by Shanghai University of Finance and Economics showed. A reading above 100 points to optimism.
The latest figure fell from 106.8 in the first quarter and 107.5 in the last quarter of 2012, indicating a continued loss of confidence among Shanghai consumers.
Xu Guoxiang, director of the university's Applied Statistics Research Center, said almost all component indices fell and urged more efforts to stabilize the economy.
"People show less confidence in the domestic economy, which has a huge impact on their willingness to spend," Xu said.
The component index revealed people's confidence in the economy fell 3.3 points from the previous quarter to 127.8. Following that, the index of conditions in the job market lost 13.1 points from the previous three months to 89.5 between April and June, the worst in four years.
The Index of Consumer Confidence shed 1.8 points from a year earlier to 103.2 in the three months ending in June, a study conducted by Shanghai University of Finance and Economics showed. A reading above 100 points to optimism.
The latest figure fell from 106.8 in the first quarter and 107.5 in the last quarter of 2012, indicating a continued loss of confidence among Shanghai consumers.
Xu Guoxiang, director of the university's Applied Statistics Research Center, said almost all component indices fell and urged more efforts to stabilize the economy.
"People show less confidence in the domestic economy, which has a huge impact on their willingness to spend," Xu said.
The component index revealed people's confidence in the economy fell 3.3 points from the previous quarter to 127.8. Following that, the index of conditions in the job market lost 13.1 points from the previous three months to 89.5 between April and June, the worst in four years.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
