China's business confidence in manufacturing rose in the second quarter, while the overall confidence fell, according to the Chinese National Bureau of Statistics.
The manufacturing and services industries were the only sectors to mark an increase in business confidence from the first quarter. Confidence dropped in almost all industries, suggesting that many firms are less optimistic about the economy than in the first quarter. Companies involved in transport, storage and postal industries noted the biggest loss in confidence. The bureau surveys 19,500 enterprises of all types to compile the index, which is meant to represent firms' views on the overall economic environment and macroeconomic policy. Chinese Business Confidence Index (second quarter 2006)Changes are expressed in terms of points:
Level Change, pts
pts vs Q1
Breakdown by Industry
Manufacturing 129.7 +1.5
Construction 130.9 -1.5
Transport, storage, postal 123.5 -10.3
Wholesale, retail 134.9 -2.3
Property 132.7 -2.0
Services 135.3 +1.4
Telecoms, computer, software 149.7 -6.1
Hospitality and catering 126.9 -0.9
Mining 157.5 -3.3
Power, LNG, water 138.2 -0.6
