Shanghai Consumer Confidence Index released in SUFE
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Transtlate A survey conducted by the Shanghai University of Finance and Economics indicated that, Shanghai consumers tighten their wallets in the second quarter of this year.
The Shanghai Consumer Confidence Index hit 105.2 points between April and June, a drop of 3.9 points from the previous quarter and 6 points from a year earlier.
According to Guoxiang Xu, the research program leader and director of the university’s Applied Statistics Research Center,“Consumers lost confidence on concerns of a rising yuan, decreasing exports, tightened monetary policies, inflation and a declining stock market. The European debt crisis also dampened the recovery of the world economy.”
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