(0712 CR M08) CONSUMER CONFIDENCE DROPS
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- The Video News Portal
(0712 CR M08) CONSUMER CONFIDENCE DROPS
From Xinhua News Agency: (0712 CR M08) CONSUMER CONFIDENCE DROPS DATELINE: July 12, 2011 LENGTH: 00:01:00 VO Latest figures show that Chinese consumers' confidence dropped in June largely due to rising food prices. The Bankcard Consumer Confidence Index was released on Monday. The index, based on bank card transaction data and analyses of structural changes in urban consumption, stood at 86.06 in June, down 0.24 points from the previous year. It's also down 0.05 points from May. The report attributed the drop in consumer confidence to continuous increases of food prices. Official figures showed that food prices climbed 14.4 percent in June year-on-year, with pork prices increasing the most, by 57.1 percent. The inflation data, the Consumer Price Index growth hit a three-year high of 6.4 percent in June year-on-year. The report predicts that a string of macroeconomic policies by the government to ease inflationary pressures will help stabilize consumer confidence. Powered by www.newslook.com
The Video News Portal | July 12, 2011
