Consumer confidence rises strongly in June

Updated: 2012-07-04 17:24


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BEIJING -- Confidence in China's real estate and stock markets as well as car-purchase decision strengthened in June as consumers reacted positively to the interest rate cut and the government's economic stimulus measures, Shanghai Daily reported Wednesday.

The MNI China Consumer Sentiment Indicator published Tuesday by Market News International, a unit of Deutsche Boerse Group, pointed to a strong rebound in consumer confidence in June from the previous month.

The index rose to 101.6 points in June from May's 90.4, and was the highest in 22 months, according to MNI's report.

A score above 100 signals net optimism.

The number of people saying it is a good time to buy a home rose in June as their outlook for housing prices improved last month. Their sentiment over buying a car also recovered, aided by lower fuel prices and new government subsidy plans.

Their view of the stock market over the next three months rose to the highest level since November 2011.

The results were compiled from 1,004 interviews in 30 cities.