CONSUMER confidence in Shanghai rose slightly in the first quarter of this year thanks to the city's faster economic recovery compared with elsewhere in the country, a survey showed today.
The Index of Consumer Sentiment increased 1.9 points from a year earlier to 106.8 in the first three months, indicating increasing optimism among local residents, a survey by Shanghai University of Finance and Economics showed.
A reading above 100 means positive sentiment among nearly 1,000 people interviewed.
"Consumers are cheered up by the determination of China's new leadership to sustain the economic growth while improving its growth quality," said Xu Guoxiang, program leader and director of the university's Applied Statistics Research Center.
Also, Shanghai was among the first batch of cities which exhibited signs of economic recovery that helped boost local people's confidence, Xu added.
Shanghai's gross domestic product expanded 7.5 percent year on year in 2012, compared with the increase of 7.4 percent in the first three quarters of last year, according to the Shanghai Statistics Bureau.
Shanghai led other cities in securing an economic recovery, reflected by faster growth since the third quarter of last year.
Feedback
RSS
