Photo: sidstamm on flickr
Fears of inflation are widespread in China, and it’s causing consumer confidence to slide.China.org.cn:
Data shows Chinese consumer confidence fell in the fourth quarter of 2010, to the lowest since 2009. The index stood at 100, from 104 in the previous quarter. That’s according to the Chinese National Bureau of Statistics and Nielsen.
Analysts say that’s due to concern inflation may restrain domestic spending. 83 per cent of consumers expect prices to rise further in the next 12 months, 6 percentage points higher than in the previous quarter.
Meanwhile, the Shanghai Composite is up a modest 0.2% in early going.