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Chinese Consumption Continues to Grow
Economic growth and growing personal incomes have helped drive up the China's consumer confidence for the fifth consecutive month in May, official figures show.
According to figures that the National Bureau of Statistics ( NBS) released here today, the consumer confidence index rose by 0. 4 points over April to 95.2 points in May, reaching the highest level so far this year.
The consumer expectations index rose by 0.4 points over April to 96.5 points in May. The index was 0.8 points higher than that for March.
The May consumer contentment index was 93.2 points, up 0.5 points from April. The bureau said that the consumer contentment index has shaken off the doldrums of lingering around the 92 points level for the past year, reflecting consumers perception of the improvement of the economy.
The NBS said that consecutive monthly rises of the consumer confidence index indicated that the consumers are increasingly optimistic about their incomes and the economy in the future.
However, it said that the consumer confidence index is yet to climb back to the 100-point level that it reached in December 1997.
It said that existing problems in the economy leave little room for optimism over the growing momentum.
According to NBS, so far the consumer confidence index has indicated a steady performance of the economy in the next few months.
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