Shanghai consumer confidence drops
July 15, 2013 Category Retail, Weekly
Consumer confidence in Shanghai dropped to a nine-month low during the second quarter of this year due to a weaker domestic economy, fewer job opportunities and a sharp decline in the stock market. The Index of Consumer Confidence shed 1.8 points from a year earlier to 103.2 in the three months ending in June, a study conducted by the Shanghai University of Finance and Economics showed. A reading above 100 points to optimism. The latest figure fell from 106.8 in the first quarter and 107.5 in the last quarter of 2012, indicating a continued loss of confidence among Shanghai’s consumers.
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