Consumer confidence rises in 2Q on rural optimism

The confidence of China’s consumers rose slightly in the second quarter of 2010 as measured by the Consumer Confidence Index, state media reported. The index, issued by the National Bureau of Statistics-affiliated China Economic Monitoring & Analysis Center and Nielsen rose to 109 in the second quarter, up from 108 in the first quarter. It marked the fifth consecutive quarter of growing consumer confidence. The comprehensive confidence figure was lifted by strong optimism among rural consumers; the confidence of urban dwellers, by contrast, fell. Despite indications of slowing economic growth, about 75% of respondents to the survey indicated optimism about the job market and their salary prospects, though 70% expected prices to rise over the next year.