Consumer confidence climbs in Q1

Updated 2017-05-24 09:01:32 Shanghai Daily

China's consumer confidence climbed to the highest level in two years, edging up 2 points from a quarter earlier to 110 points at the end of the first quarter, Nielsen said in a report yesterday.

The rebound of the Nielsen's Consumer Confidence Index suggests a recovery of consumer confidence along with the stable growth of individual income.

"China's consumption upgrade trend has fueled people's spending intentions," said Vishal Bali, managing director of Nielsen China. "When people's basic needs such as food, clothing and transportation have been satisfied, the consumption upgrading will aim at high-end development and services and this trend will further stimulate spending intentions."

Bali said employment opportunities and personal financial situation "are translating into demand for premium pro-ducts and services."

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