Economic Buzz: Chinas Consumer Confidence Hits Decade High In Q1 2018

Chinas consumer confidence index in the first quarter of 2018 hit its highest level in the past 10 years, following an improved macroeconomic outlook and better employment prospects, Nielsens latest survey showed on Thursday, according to media reports. Nielsens index, which measures perceptions of local job prospects, personal finance and immediate spending intentions, climbed one point quarter-on-quarter to 115 points in the first three months of this year. Consumer confidence levels above and below a baseline of 100 respectively indicate degrees of optimism and pessimism. Chinas GDP growth maintained a stable performance in the first quarter, up 6.8% year-on-year and 1.4% month-on-month, according to data from the National Bureau of Statistics.