China Consumer Confidence Declines in July Satisfaction with Current Prices
Keeps Improving
SHANGHAI, China, July 29 /Xinhua-PRNewswire/ -- Xinhua Finance eziData
China Consumer Confidence Index (CCCI) was updated today, with the survey
results showing that, due to a series of negative factors such as the falling
stock market and concerns on deepening subprime mortgage crisis, China
consumer confidence index went down to 92 in July, which was 3.1 points down
from that of June, or 4.8 points down from that of January 2008. Meanwhile,
the US consumer confidence index released by the University of Michigan has
been declining since January 2008, mainly affected by the subprime mortgage
crisis. In July, it rebounded a little bit to 61.2, but still 17.2 points down
from that of January. It is worth noting that China consumers' sentiment on
the current general prices improved for the third consecutive month in July to
72.2, the best reading since November 2007.
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For more information on Xinhua Finance eziData China Consumer Confidence
Index (Baseline survey: April 2007 = 100), please refer to
http://www.xinhuafinance.com/en/charts/indicator/ccci/ccci0807_en.jpg .
Under the support of the Xinhua Finance family, Xinhua Finance eziData
China Consumer Confidence Index is produced monthly by eziData, a local
provider of China consumer data, and in association with Dr. Richard Curtin.
Dr. Curtin is Research Professor and Director of the Consumer Sentiment
Surveys at the University of Michigan's Institute of Social Research. The
survey this month was conducted through 1,555 telephone interviews from July 1
to 14, 2008. April 2007 survey results are set as the benchmark value of 100.
More on the survey methodology can be found in the accompanying section.
The July consumer sentiment on current conditions in China was 90.9, which
was 3.7 points down from June, or 6.3 points down from January. The decline in
July was mainly due to the continuous failure of the expected stock market
rebound in recent couple of months, which caused more loss on the part of the
investors.
The July consumer sentiment on future expectations in China was 92.6,
which was 2.6 points down from June, or 3.9 points down from January. The
decline was mainly due to consumers' concerns on possible deepening of the
subprime mortgage crisis, which was expected to have negative impacts on
China's future economy.
On the other hand, China consumers' sentiment on current general prices in
July kept a strong improving trend seen in May and June and rose another 0.7
point to 72.2. The consumer sentiment on current prices was 71.5 in June, 67.1
in May, and 57.9 in April. Overall, the July reading was 14.3 points up from
that of April.
To find more about CCCI or subscribe to a full version of the survey,
please contact us via info@eZiData.com .
Methodology
Xinhua Finance eziData China Consumer Confidence Index is produced in
association with Dr. Richard Curtin, Research Professor and Director of the
Consumer Sentiment Surveys at the Institute of Social Research, University of
Michigan. The index is based on a monthly survey of around 1,500 Chinese
households via stratified random sampling in 50 representative cities across
East, Middle and West China using the same methodology as is used by the
University of Michigan. All data is collected via computer assisted telephone
interviewing (CATI). Index of April 2007 survey is set as the benchmark (100).
Notes to editors:
About Xinhua Finance Limited
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and media service provider and is listed on the Mothers Board of the Tokyo
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About eziData
eziData is a local provider of China consumer data, serving both financial
and consumer market participants. It aims to serve global and local business
professionals with decision-making tools that relate to consumption in China
and conform to international standards. eziData's comprehensive portfolio of
high-quality consumer data products, which includes a structured real-time
databank, delivers a broader and more insightful view of the market. For more
information, please visit http://www.eziData.com .
For more information, please contact:
Xinhua Finance
China:
Ms Joy Tsang
Tel: +86-21-6113-5999, +86-136-2179-1577
Email: joy.tsang@xinhuafinance.com
Mr. Scott Zhang
Tel: +86-21-6113-5996
Email: scott.zhang@xinhuafinance.com
SOURCE Xinhua Finance Limited; eziData
China, Ms Joy Tsang, +86-21-6113-5999, or mobile, +86-136-2179-1577, or
joy.tsang@xinhuafinance.com; Mr. Scott Zhang, +86-21-6113-5996, or
scott.zhang@xinhuafinance.com, both of Xinhua Finance Limited
