Consumer confidence in China highest in three years
"Instead of calling it a significant increase, we look at it as a 'back-to-normal' trend, as consumer optimism in both personal finances and purchase intentions suffered a huge decline in the fourth quarter of 2012, largely due to big fluctuations in the Chinese stock market," said Yan Xuan, president of Nielsen Greater China, for the China Daily.
The consumer confidence index stood at 108 in the first quarter of 2013, unchanged from the previous quarter and 15 points higher than the global average, according to Nielsen.
Nielsen's research showed that in the first quarter of 2013, consumers in east China reported the highest confidence index with 113 points (+3), followed by the south at 107 (-8), the north at 106 (unchanged from the previous quarter) and the west at 101 (+4).
The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, measures consumer confidence, major concerns, and spending intentions among more than 29,000 respondents with Internet access in 58 countries.
Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism. The China Consumer Confidence Index is compiled from a mixed methodology survey among 3,500 respondents in the country. ■