China's business climate index up in first quarter
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China's business climate index, a major measure of macro-economic outlook, rose slightly by 2.3 points in the first quarter, the National Bureau of Statistics (NBS) said Friday.
The quarterly business climate index, based on a survey of 19,500 Chinese firms, climbed to 132.9 points from 130.6 in the fourth quarter last year, the highest level since the second quarter of 2008, the NBS said in a statement on its website.
The index ranges from zero to 200. A reading above 100 shows economic expansion, while a reading below 100 indicates contraction. The survey began in 1998.
All sectors reported business indices above 100 for the fourth straight quarter, which indicated expansion, said the statement.
The index for the industrial sector rose from 128.1 in the previous quarter to 130.1, while for the tertiary sector, the index was back to growth by rising 11.8 points to 130.8 after declining in the fourth quarter last year.
The business climate index for the real estate sector increased just 2.2 points to 147.4 in the first three months this year as the government promised to cool the property market and check the skyrocketing home prices.
The entrepreneur confidence index, a gauge of the understanding, views and projections of business people, rose 7.8 points from three months ago to 135.5 in the first quarter, said the NBS.
