Measures bolster consumer faith in Q2
Print Edition
SHANGHAI’S consumer confidence rose again in the second quarter of this year as residents were lifted by easing monetary policies and property measures that helped stabilize the city’s economy, a survey showed yesterday.
The Index of Consumer Confidence in Shanghai, compiled by the Shanghai University of Finance and Economics, rose to 119.7 in the second quarter, up from 118.6 in the first three months and 107.1 a year earlier.
A reading above 100 signals optimism, and the data have pointed to continuous improvement in sentiment in the past four quarters.
Xu Guoxiang, director of the university’s Applied Statistics Research Center, said Shanghai’s second-quarter economic indicators are expected to achieve the target, an encouraging sign in bolstering people’s confidence.
“Also, many of the accommodative measures in Shanghai focus on how to improve people’s basic livelihood, which strengthens people’s confidence and willingness to spend,” Xu said.
Shanghai Mayor Yang Xiong said yesterday that the city’s economy has performed much better in the second quarter thanks to the city’s deeper reforms in its free trade zone.
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