Chinese Manufacturing Confidence Rises In Second Quarter

The Chinese National Bureau of Statistics reports that business confidence in the manufacturing sector rose in the second quarter, while the overall index fell.

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

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