Service industry index hike suggests improved consumption rates: CDRI

The CDRI said that the indicator for January 2013 shows the economy is enjoying stable growth compared to its lackluster performance for the past 13 months.

The report applies a five-color spectrum to measure market variables for the service industry.

“Blue” represents a weak economy; “yellow-blue” a relatively weak economy; “green” means a stable economy; “yellow-red” indicates medium prosperity; and a “red” light suggests the highest level of industry prosperity, said the CDRI.

The CDRI said the ISI score was at 99 — a “yellow blue” signal — in December of 2012.

Increases in trading volume and share prices in the service industry had been too small to affect December's score, the institute said.

The January 2013 growth adds weight to an optimistic assessment for the future economy said the CDRI.

Consumer Confidence Increases

The stock market subindex scored 99 points in January 2013, the CDRI said. The institute said that an improving global stock market is increasing investor confidence.

The CDRI said the stock market subindex has remained flat from December of last year.

It added that the employment and salary subindex score for January is at 102 points. It remained the same as last month, said the CDRI.

The institute said it shows the industry is enjoying strong demand for labor, which could imply future expansion in the job market.

The operation subindex stood at 102 for January 2013 — a 3-point rise on December of last year, said the CDRI.

The institute said domestic consumption was strong during the Chinese New Year Holidays which strongly contributed to the growth of index.

The institute said the ISI's overall improved score suggests consumers are getting more confident in the economy.

Improved commercial revenues were a strong factor behind the growth in the ISI score, said the CDRI.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	China parliament targets growth, graft, well-being

NEXT ARTICLE
US home prices increase by most in nearly seven years

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit