Nielsen survey shows Chinese consumer confidence index hits 2-year high

In the third quarter, China's consumer confidence index rose from 95 to 101, the highest level since the 2007-year period, a sharp increase in Chinese consumer earnings expectations and job confidence, according to a recent survey by the Beijing Electric Nielsen. Globally, the biggest increase in consumer confidence is in Hong Kong, followed by South Korea and Brazil, compared with the second quarter.　　The global and US consumer confidence index rose by 4 points.　　China's consumer confidence continued to pick up in the third quarter, with one or two-tier cities showing 102 and 104 per cent, respectively, and consumer confidence in the central and western regions as well as in second-tier cities, the survey showed. Surveys show that the rebound in consumer confidence is mainly due to improved local employment prospects and good expectations for the outlook for personal income. Nearly 60% (57%) of consumers in western China think the local employment outlook is "better or better". Second-tier city consumers have seen the most significant changes in local employment prospects over the next 12 months, with a "better or better" ratio of 55%. Chinese urban consumers have a better view of their personal income over the next 12 months.　　Nearly 60% of consumers think the future will be "better" or "very good". The survey also showed that, while overall, Chinese consumers were increasingly optimistic about personal income and job prospects, respondents remained cautious when asked about spending intentions for the next 12 months.