SHANGHAI, July 30 /Xinhua-PRNewswire/ -- Xinhua Finance eziData China Consumer Confidence Index (CCCI) was updated today, with the survey results showing that, due to a series of negative factors such as the falling stock market and concerns on deepening subprime mortgage crisis, China consumer confidence index went down to 92 in July, which was 3.1 points down from that of June, or 4.8 points down from that of January 2008. Meanwhile, the US consumer confidence index released by the University of Michigan has been declining since January 2008, mainly affected by the subprime mortgage crisis. In July, it rebounded a little bit to 61.2, but still 17.2 points down from that of January. It is worth noting that China consumers' sentiment on the current general prices improved for the third consecutive month in July to 72.2, the best reading since November 2007.
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For more information on Xinhua Finance eziData China Consumer Confidence Index (Baseline survey: April 2007 = 100), please refer to http://www.xinhuafinance.com/en/charts/indicator/ccci/ccci0807_en.jpg .
Under the support of the Xinhua Finance family, Xinhua Finance eziData China Consumer Confidence Index is produced monthly by eziData, a local provider of China consumer data, and in association with Dr. Richard Curtin. Dr. Curtin is Research Professor and Director of the Consumer Sentiment Surveys at the University of Michigan's Institute of Social Research. The survey this month was conducted through 1,555 telephone interviews from July 1 to 14, 2008. April 2007 survey results are set as the benchmark value of 100. More on the survey methodology can be found in the accompanying section.
The July consumer sentiment on current conditions in China was 90.9, which was 3.7 points down from June, or 6.3 points down from January. The decline in July was mainly due to the continuous failure of the expected stock market rebound in recent couple of months, which caused more loss on the part of the investors.
The July consumer sentiment on future expectations in China was 92.6, which was 2.6 points down from June, or 3.9 points down from January. The decline was mainly due to consumers' concerns on possible deepening of the subprime mortgage crisis, which was expected to have negative impacts on China's future economy.
On the other hand, China consumers' sentiment on current general prices in July kept a strong improving trend seen in May and June and rose another 0.7 point to 72.2. The consumer sentiment on current prices was 71.5 in June, 67.1 in May, and 57.9 in April. Overall, the July reading was 14.3 points up from that of April.
To find more about CCCI or subscribe to a full version of the survey, please contact us via info@eZiData.com .
Methodology
Xinhua Finance eziData China Consumer Confidence Index is produced in association with Dr. Richard Curtin, Research Professor and Director of the Consumer Sentiment Surveys at the Institute of Social Research, University of Michigan. The index is based on a monthly survey of around 1,500 Chinese households via stratified random sampling in 50 representative cities across East, Middle and West China using the same methodology as is used by the University of Michigan. All data is collected via computer assisted telephone interviewing (CATI). Index of April 2007 survey is set as the benchmark (100).
Notes to editors:
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About eziData
eziData is a local provider of China consumer data, serving both financial and consumer market participants. It aims to serve global and local business professionals with decision-making tools that relate to consumption in China and conform to international standards. eziData's comprehensive portfolio of high-quality consumer data products, which includes a structured real-time databank, delivers a broader and more insightful view of the market. For more information, please visit http://www.eziData.com .
