Indexes point to improved conditions in Shanghai
Print Edition
SHANGHAI’S consumer confidence rebounded in the last quarter of 2015 while its consumer satisfaction last year reached the highest in eight years, a survey showed yesterday.
The Index of Consumer Confidence in Shanghai, a quarterly index compiled by the Shanghai University of Finance and Economics, rose to 116.4 in the October-December quarter from 115.8 in the previous three months.
A reading above 100 signals optimism, and the latest figure marked a return to the uptrend after the deterioration in the July-September period.
“Shanghai’s economic growth rate has almost caught up with the national average, and it helped to bolster people’s confidence for the future,” said Xu Guoxiang, director of the university’s Applied Statistics Research Center.
Shanghai’s gross domestic product grew 6.8 percent year on year in the first three quarters of 2015, just slightly lower than the national average of 6.9 percent.
The city aims to grow its economy between 6 and 7 percent in the next five years, Mayor Yang Xiong said last month.
The Index of Consumer Satisfaction in Shanghai, an annual index also compiled by the university and with 50 as its demarcation line, rose to 72.3 last year from 70.68 in 2014 to reach the highest since 2007.
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