Shanghai’s consumer and investor confidence rises

Source: Xinhua | 2017-10-17

SHANGHAI’S consumer confidence index hit a record high and investor confidence rose in the third quarter, buoyed by the steady growth of the national economy.

The Index of Consumer Confidence in Shanghai, a quarterly gauge compiled by Shanghai University of Finance and Economics, rebounded 3.8 points from the second quarter to 121.4 points in the July-September period, up 5.1 points from the level in the same period last year.

The Index of Investor Confidence in Shanghai rose by 13.30 points from the second quarter to 116.95 points in the July-September period, a year-on-year growth of 12.44 points.

A reading above 100 points indicates optimism.

“Shanghai’s economy grew steadily as shown by the recovering economic indicators, giving a boost to consumers while the positive employment situation also lifted their optimism,” said Xu Guoxiang, director of the university’s Applied Statistics Research Center.

“The positive influence of the supply-side reforms and the global cyclical economic recovery boosted the Purchasing Manager’s Index and helped it rise for two months, hitting a new high since May 2012,” Xu said. “The real economy has improved significantly and vitality enhanced, lifting entrepreneurial confidence to invest.”