Bankers shown as least confident in economy
Print Edition
BANKERS displayed the least confidence in the economy since the third quarter of 2012 while consumers showed the most satisfaction about prices in five years, a central bank survey showed yesterday.
An index measuring bankers’ confidence in the economy fell to 52.5 percent in the fourth-quarter survey, down 6.6 percentage points from the last quarter and was the lowest in nine quarters, the People’s Bank of China said on its website yesterday.
The survey found 48.8 percent of respondents said the economy was “relatively cool,” up 6 percentage points from the last quarter.
The results were released amid weak Chinese economic data.
The Asian Development Bank last week cut its 2014 growth forecast for China from 7.5 percent to 7.4 percent, and from 7.4 to 7.2 percent in 2015.
Latest data showed China’s manufacturing may see the worst performance in seven months in December.
The survey, covering 3,100 banking institutions, 20,000 residents and 5,900 business owners, found that 91.5 percent of bankers expect the central bank to keep monetary policies stable or ease them to stabilize the economy, up 4.9 percent from the last quarter.
The PBOC found the business confidence index falling to 61 percent in the fourth quarter, down 2.6 percentage points from the third quarter and 4.9 percentage points from the fourth quarter of last year.
An index measuring residents’ satisfaction of consumer prices rose to 25.4 percent in the fourth quarter, up 0.3 percentage points from the previous quarter and was the highest since the first quarter of 2010. But a reading below 50 percent indicates that consumers are unhappy about prices.
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