Chinese consumer confidence index was flat at 106 in the third quarter from the second quarter, according to market research firm Nielsen’s latest survey.
“China’s economy is generally in good shape and on track for stable economic growth as it restructures,” said Yan Xuan, president of Nielsen China. “The stable consumer confidence index further proves that Chinese consumers are adjusting to the new economic trend.”
Six out of 10 Chinese respondents were confident about their personal finances and as many as 58 percent of consumers were also upbeat about job prospects in the coming year. Another 49 percent believed now is a good time to spend.
“China may experience some short-term pains during its economic transformation, but the country’s new economy is vibrant and new businesses are booming with new growth momentum accumulating,” the report said.
The consumer confidence index in east China has been climbing steadily from 117 since the first quarter of this year to 120 in the third quarter, the highest level in two years.
The same trend appeared in the index for West China, from 95 in the first three months to 98 in the third quarter amid favorable policy support from the government.
The consumer confidence in second-tier and third-tier cities also climbed as employment recovered there.
