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Chinese Consumer Confidence Drops Due to Inflation
Fears of inflation are widespread in China, causing consumer confidence to slide. Can this mean danger to the Chinese economy?
Though China reportedly lands to no. 2 in world economy, inflation is still widespread in the country. That said, the Chinese consumer confidence fell during the fourth quarter of 2010. According to the Chinese National Bureau of Statistics and Nielsen, the index stood at 100 — the lowest since 2009.
Analysts believe that the drop in consumer confidence in China is due to inflation, restraining people from domestic spending. Compared to Q3 2010, 83% of consumers expect price hikes for the next 12 months. But the Shanghai Composite, on the other hand, is up to 0.2% in its early going.
Will the fall of Chinese consumer confidence pull its economy down? Share your insights by leaving a comment.
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