Shanghai's consumer confidence drops
By Ding Yining |
October 10, 2012, Wednesday
|
Print Edition
Print Edition
WEAKER internal and external demand as well as less willingness to spend have dented Shanghai's consumer confidence in the third quarter, a survey showed yesterday.
The Index of Consumer Sentiment dropped 4.4 points quarterly to 100.6 in the three months ended September 30, the first fall since the second quarter of last year, according to studies conducted by Shanghai University of Finance and Economics.
A reading above 100 indicates optimism and the contrary points to a lack of confidence.
"A slower economic growth in the emerging markets and the debt woes of developed countries have dampened consumers' expectations," said Xu Guoxiang, director of the university's Applied Statistics Research Center.
A sluggish domestic capital market also weakened the sentiment to spend, with consumers exhibiting an overall cautious attitude, Xu added.
The Index of Consumer Expectations shed 4.4 percent from the earlier three months to 98.6 points as the dismal global economic outlook has created uncertainties and reduced consumers' hopes about the future.
Of the 1,000 consumers surveyed by the university, 72.8 percent considered it a bad time to buy a home in the next six months on wide expectations that home prices may fall.
The Index of Consumer Sentiment dropped 4.4 points quarterly to 100.6 in the three months ended September 30, the first fall since the second quarter of last year, according to studies conducted by Shanghai University of Finance and Economics.
A reading above 100 indicates optimism and the contrary points to a lack of confidence.
"A slower economic growth in the emerging markets and the debt woes of developed countries have dampened consumers' expectations," said Xu Guoxiang, director of the university's Applied Statistics Research Center.
A sluggish domestic capital market also weakened the sentiment to spend, with consumers exhibiting an overall cautious attitude, Xu added.
The Index of Consumer Expectations shed 4.4 percent from the earlier three months to 98.6 points as the dismal global economic outlook has created uncertainties and reduced consumers' hopes about the future.
Of the 1,000 consumers surveyed by the university, 72.8 percent considered it a bad time to buy a home in the next six months on wide expectations that home prices may fall.
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