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January 29, 2015

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Shanghai’s consumer morale rises in Q4

SHANGHAI’S stable, albeit slowing, economy helped consumer confidence rise in the final quarter of 2014, a survey showed yesterday.

The Index of Consumer Confidence in Shanghai, compiled by the Shanghai University of Finance and Economics, posted 117.6 in the October-December quarter, up from 116.1 in the previous three months.

A reading above 100 signals optimism.

Xu Guoxiang, director of the university’s Applied Statistics Research Center, said Shanghai consumers were confident about the future as the city’s economic growth remained stable despite the slowdown.

“With the pilot free trade zone and other key projects injecting new vitality into the economy, Shanghai consumers are positive about the future,” Xu said.

In 2014, Shanghai’s economy grew 7 percent from a year earlier, below both 2013’s growth of 7.7 percent and the national level of 7.4 percent.

The university also released indices on people’s sentiment toward various products and services in 2014. Consumers were most satisfied with the quality of home appliances such as refrigerator and air-conditioner, and least satisfied with the quality of medical services.


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