Consumer confidence reaches 10-year peak

Consumer confidence index in the first quarter reached its highest level in the past 10 years, buoyed by an improved macroeconomic outlook and better employment prospects, Nielsen's latest survey showed on Thursday.

Nielsen's index, which measures perceptions of local job prospects, personal finance and immediate spending intentions, climbed one point quarter-on-quarter to 115 points in the first three months of this year. Consumer confidence levels above and below a baseline of 100 respectively indicate degrees of optimism and pessimism.

"As China's economy maintains steady growth, innovation and emerging industries are creating opportunities and improving overall employment expectations," said Tina Ding, vice-president of Nielsen China.