Consumers not confident in China
By Hu Xiaocen |
August 3, 2012, Friday
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Print Edition
Print Edition
CONSUMER sentiment plunged across China in July as respondents felt negative towards economic prospects, Market News International, a unit of Deutsche Boerse Group, said yesterday.
The indicator compiled by MNI that measures China's consumer confidence dropped sharply to 90.9 in July from 101.6 in June, giving up most of last month's gains. The initial euphoria in response to government policy moves in June was replaced by a more cautious stance, as consumers reacted negatively to second-quarter and June economic data and to the more subdued statements from government officials during July, MNI said.
The indicator compiled by MNI that measures China's consumer confidence dropped sharply to 90.9 in July from 101.6 in June, giving up most of last month's gains. The initial euphoria in response to government policy moves in June was replaced by a more cautious stance, as consumers reacted negatively to second-quarter and June economic data and to the more subdued statements from government officials during July, MNI said.
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