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Chinese consumer confidence declines to lowest

0 CommentsPrint E-mail CNTV, February 24, 2011
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Data shows Chinese consumer confidence fell in the fourth quarter of 2010, to the lowest since 2009. The index stood at 100, from 104 in the previous quarter. That's according to the Chinese National Bureau of Statistics and Nielsen.

Analysts say that's due to concern inflation may restrain domestic spending. 83 percent of consumers expect prices to rise further in the next 12 months, 6 percentage points higher than in the previous quarter.

China's inflation has topped the government's 4 percent target for 2011 for the past four months. The report also says high housing prices and rising interest rates also curbed private consumption.

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