Top Biz News

Economic confidence reaches record high

(Xinhua)
Updated: 2010-01-18 17:26

Consumer sentiment towards economic development in Chinese mainland, Macao, Hong Kong and Taiwan has improved for three consecutive quarters, according a press release from the City University of Hong Kong on Monday.

The consumer confidence scores for economic development in Chinese mainland, Macao, Hong Kong and Taiwan were 125.5, 116.6, 102.3 and 57.1 respectively, the highest since the survey was first conducted in the first quarter of 2009.

The consumer confidence index, using a scale of 0 to 200 to represent ascending levels of consumer confidence, details consumer sentiment towards economic development, employment, consumer prices, living standards, housing purchases and stock investment.

The index serves as an indicator of spending intentions over a particular period by examining consumer perceptions about current and anticipated social and economic conditions.

The study also revealed that the scores for confidence in living standards also stood high in general with the Chinese mainland gaining 122.4, Hong Kong, 107.9, Macao, 101.4, while Taiwan only got 58.4.

The overall consumer confidence index in the Chinese mainland was 95.0 and Hong Kong, scoring 88.4, dropped in comparison to the previous quarter. Macao was rather stable, gaining 86.9, and Taiwan, scoring 66.6, recorded an obvious improvement.

The Chinese Consumer Confidence Index has measured quarterly consumer sentiment in Chinese mainland, Macao, Hong Kong and Taiwan since the first quarter of 2009.