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Shanghai consumers remain confident
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Shanghai's steady economic growth and relatively low inflation helped bolster confidence among local consumers, a survey showed today.
The Index of Consumer Sentiment in Shanghai rose to 112.7 in the first three months of this year, up 1.1 points from the previous quarter, according to a survey by Shanghai University of Finance and Economics.
A reading above 100 means optimism.
Xu Guoxiang, director of the university's Applied Statistics Research Center, said people's confidence was due to the city's better-than-expected economic performance in recent months.
"Compared with other Chinese cities, Shanghai has solid economic fundamentals and is more resilient in the face of difficult times," Xu said. "Shanghai has been faring well in controlling risks, keeping growth steady and inflation low."
Shanghai's Consumer Price Index rose 2.5 percent from a year earlier in March, largely in line with the national average of 2.4 percent, according to the Shanghai Statistics Bureau.
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