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China's consumer confidence index remains high in second quarter

| Updated: September 01, 2018 13:36:40

China's consumer confidence remains high in Q2

China's consumer confidence remained high in the second quarter (Q2) of the year, according to a research report by global measurement and data analytics company Nielsen.

The country's Consumer Confidence Index (CCI) stood at 113 points in the Q2, down two points from Q1 but still well above the baseline of 100 that demarcates between optimism and pessimism, Nielsen said.

Andy Zhao, president of the data analytics company, saw a resilient Chinese economy despite a more complex global economic situation, reports Xinhua.

"The structure and production efficiency of the economy are steadily optimizing, and the transformation and upgrading of the economy continue to open new drivers for growth. That laid a solid foundation for high-quality economic development," he said.

Nielsen's CCI index measures perceptions of local job prospects, personal finance and willingness to make purchases.

All three components of the CCI stayed high in second quarter, with local job prospects climbing seven points from 68 points in the same period last year.

The willingness to spend increased four points from 56 points a year earlier. Personal finance in Q2 stood at 68 points.

In the first seven months of the year, China's retail sales expanded 9.3 per cent year on year, compared with 9.4-per cent growth in the first half, data showed.

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