Household confidence weakens again

Updated 2017-12-08 09:32:02 Shanghai Daily

China's household confidence weakened again after people saw income fall and received less returns from investment, a survey showed yesterday.

The China Wealth Index, compiled every three months by Bank of Communications and research firm Nielsen, fell to 137 in December from 139 in October and a two-year high of 140 in July.

A reading above 100 reflects optimism among 1,885 households interviewed.

The index measuring people's income shed 1 point to 150, with a fall in people's spending on traveling and entertainment during the period.

"China's economy slowed a bit in the third quarter, but remained largely stable," said Lian Ping, chief economist of BoCom.

China's gross domestic product grew 6.8 percent in the July-September period, easing from 6.9 percent in the previous two quarters.

The sub-index measuring people's willingness to invest in real estate lost 4 points to 109, the second retreat after it rose in July's survey, after China extended measures to dampen property speculation to more second-tier cities.

"Stricter measures to calm the housing market affected people's confidence to some extent," Lian said.

The employment index remained stable in the survey's history of seven years at 130.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 18 2018 22:48:17

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 18 2018 22:48:17

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 18 2018 22:48:17

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords